Investec has lowered its target for Fenner from 380p to 375p and maintained a 'sell' recommendation, saying that the company took a "cautious" tone in its second-quarter update. "We consider that the valuation is still too rich for a low-teens margin business with rising net debt and a recent history of downgrades, and a 5p cut to our […] target does not change our 'sell' stance."
A nice Santa rally with Fenner. A 7% rise on no news. I bought in at 451 and this is starting to go into nice profit. Double digit % on ROC, ROE and operating margins. With positive revenue and earnings growth over next couple of years, i am encouraged about my investment in this company
10 Sep '13
Pre-close trading statement
Following a successful end to its financial year, Fenner anticipates that its financial results for the year ended 31 August 2013 will be in line with expectations. The Group's balance sheet remains strong. Net debt at 31 August 2013 was better than expected at approximately £125m, having benefitted from the timing of payment of capital expenditure, reduction in working capital and exchange rate movements. Trading conditions across the Group have remained broadly unchanged since the interim management statement on 18 July 2013, and the Group continues to anticipate a return to growth in its 2013/4 financial year. The Group expects to release its results for the full year on 13 November 2013. ( 10 September 2013 )
28 Jul '13
Nice tip in the Sunday Times today, points out broker targets over £4, but that future revenues are guaranteed with maintenance contacts
5 Jul '13
Good news imho....
...NORGES BANK have upped their holing in FENNER from 3.06% to over 4%. They bought a slice of afren a few weeks ago too.
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