Liberum raising its price target to 450 pence from 420p. Trading update: strong 4th quarter, full-year earnings to beat consensus.
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Wickes Group plc - Q3 Trading Update "Strong performance on a two-year basis, profit guidance confirmed" "Core sales were supported by strong performance in local trade, where home renovations continue to drive robust order books for our trade customers."
Regarding the supply chain: "Wickes operational strengths meant supply shortages had no material impact on sales in the period."
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Interim Results "First Wickes Group plc interim dividend declared of 2.1p We now expect to deliver full year adjusted profit before tax towards the upper end of market expectations Revenue growth up 33.1% on a like-for-like basis, and 22.4% on 2019. Adjusted profit before tax increased to £46.5m, ahead of guidance of around £45.0m"
Deutsche Bank target price 313 GBX, which when compared to the Wickes Group PLC share price of 210 GBX at opening today (29/10/2021) indicates a potential upside of 32.9%
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Undervalued. Trading update due in coming days. Broker views: Citi Buy 282p. Deutsche Bank Hold 300p upside scenario 442p Peel Hunt Buy 310p Liberum Capital Buy 420p
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Peel Hunt reiterates BUY 360.00
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BERENBERG INITIATES WICKES WITH 'BUY' - TARGET 280 PENCE
Trading update: strong 4th quarter, full-year earnings to beat consensus.
"Strong performance on a two-year basis, profit guidance confirmed"
"Core sales were supported by strong performance in local trade, where home renovations continue to drive robust order books for our trade customers."
Regarding the supply chain:
"Wickes operational strengths meant supply shortages had no material impact on sales in the period."
"First Wickes Group plc interim dividend declared of 2.1p
We now expect to deliver full year adjusted profit before tax towards the upper end of market expectations
Revenue growth up 33.1% on a like-for-like basis, and 22.4% on 2019.
Adjusted profit before tax increased to £46.5m, ahead of guidance of around £45.0m"
Broker views:
Citi Buy 282p.
Deutsche Bank Hold 300p upside scenario 442p
Peel Hunt Buy 310p
Liberum Capital Buy 420p