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Hopefully , ive done really nicely out of this one . Good luck .
£30 before Christmas and I think I am being conservative.
An indication of the well received Capital Markets Day to investors last week is when it leads to broker upgrades :
UBS raises 3i Group price target to 3200 (2800) pence - ‘buy’
Bank of America raises 3i Group price target to 3055 (2850) pence - ‘buy’
Great to see broker forecasts start with a 3 😊
Certainly outperformed all my other stocks, of which many I have held as long and longer that this. Only wish I had put more into this from day one.
Shame the CEO couldn't flip to Lloyds, but likely he prefers to not be attached to No 10's sting puller of whatever political persuasion that may soon be.
RBC raises 3i Group price target to 3,000 (2,650) pence - 'outperform'
Another very well received Capital Markets Day (CMD) with the SP up a stunning £2.20 today. Outperforming peers, new growth markets in Italy, Spain, Slovakia and Portugal. Current trading 21% ahead of last year with 9.6% LfL sales growth for first 11 weeks of 2024. The store expansion plan is on track with 32 stores added year to date. Cash and cash equivalents at €1.1bn. A strong business with favourable economics driven by a strong management team. The estimate of delivering a 200X return on the initial Action investment mentioned in the November CMD is still on track. This would imply a NAV of £29.67. The 3i Action juggernaut continues to roll…
Madness to invest in one share.
Hence portfolios.
...shares I have never complained about holding.
If ONLY I had put the money I have into Lloyds into 3i, which I purchased around the same time, I would be very comfortable. Held them both for around 15 odd years, and STILL down on Lloyds, with a b/e of around 60p, whereas have a b/e of around £2 or £3 pound, perhaps less on this one. AND this has always paid div's, not so Lloyds.
Still, I'm not one to grumble........................much!
Guess we all have tales of similar wrong choices..
SD235, for a single holding to represent such a substantial percentage of a portfolio, it suggests you either have an "all or nothing" approach or at the stage of building a portfolio with few holdings. I can therefore understand why you are a little twitchy. I have disposed of 2/3rds my holding in NVDA over the last 3 months, not because it is a poor investment, simply that the holding was skewing my portfolio - great on pigeon days but grim on the statue ones.
The performance record of III is exemplary and I am pretty certain that the share price will double in the next 5 years. I continue to add in my SIPP account (IHT planning).
Action is a seriously impressive discount retailer. I wonder whether they will eventually take on the UK? 3i is becoming a one company investment trust.
Managed to reduceine from 52%to 27% of portfolio.....to early.
Such is life.
I will keep my finger of the sell button for a while.
30% of portfolio just now.
A few more added today. Time will determine the wisdom or folly of decision
New peak!
Have been selling of late the renewables are just to cheap.
Still 40% of my isa
UBS upping the target to 2800 (similar to Barclay's 2810) with a buy rating maintained, enough to propel the SP to new highs again today. All looking good for now at least.
I've been adding a few each month as a regular investment in my SIPP.
No rush to sell myself.
Over 50% of my ISA.
Unless I can spot something that I consider overwhelmingly cheap then I will hold here for the time being.
Chid, I see that it fell to a premium of 15% above NAV, from premium of 23%, which is very rich. So my guess is that the market thought the NAV would come in at c. 2150/2200p and it just didn't get those numbers.
Much as I enjoy 'climbing the wall of worry', now that it's getting close to tripling my May 2020 purchase price, I'm beginning to think it's time to sell 1/3rd to 1/2 to put it on a zero-cost basis. Which raises the question, where to go next? All in on the US Techs? With their 35+ PE ratios? Any thoughts?
Perhaps we are witnessing a dose of buy on rumour, sell the news today with profit taking after the Q3 update. While there are a number of items in the update to keep investors wary (the wall of worry!) “some 2500 prices were reduced… macroeconomic conditions and global uncertainty are likely to have an impact… Action is carefully monitoring the situation in the Red Sea…” the results were impressive overall and the strength of the business is clear. Barclays who have had an excellent record in forecasting the 3i share price the last 2 years believe we will see the SP move appreciably higher to £28.10 and management called out 3 months ago the strength of Action business can get the SP to just under £30 in the next 2-5 years. Given what they have achieved over the last decade a great number of investor will hang on for the ride.
Yes the numbers are good, but as you say it's now trading at a huge premium. So it was ready for a rebalancing. Action is going brilliantly, and I'm not knocking iii's holding in it, but if iii is an investment trust investing in unlisted businesses, I think action, at 64% of the portfolio is getting too out of proportion.
There's a pretty big gap between the SP & the NAV here now, which means the markets are expecting pretty spectacular growth figures from Action. Today's numbers look extremely good to me, but perhaps the growth numbers aren't quite at the level forecast by the markets. That plus a little reverse on exchange rates which didn't help. Not sure if others on here have any thoughts?
What have I missed 'between the lines' of the report to drop this around 5%?
Surely those charming beings who seem trouble wherever encountered can't be fully to blame for this?
Already locked in profits so on a free carry now. Probably should have held (definitely should have held in fact...) but had my fingers burned so many times before, including here when the dot com bubble burst.
Getting risky now over 50% of ISA.
No intentions of selling.
May take some profits one day.
Running my winners is always best.
Top percentage gainer on the FTSE 100 after Barclays raises price target to 2810p. The performance of this share over the last 15 months from 1080p to 2494p has been STUNNING.
Barclays raises price target to £28.10 and pushing on towards £25.00 this morning, plenty to like about this share. Q3 performance update Thursday, should make for interesting reading.