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New Bloomsbury acquisition strengthens Bloomsbury Digital Resources division.
Excellent news for shareholder and prudent given recent world events. Clear indication that BMY targeting growth and longevity.
Two successive profit upgrades and an acquisition prior to results- the board is showing the market that they mean business. My view, BMY currently worth 330-350p at a minimum, though 350-380p not unreasonable over the course of a year.
Remarkable that BMY selling off this week, considering profit upgrade and further adjustment upwards. Results due in a few weeks and as typically cautious board advises, likely well above expectations.
If you’re selling, I’m buying.
II says boom:
https://www.ii.co.uk/analysis-commentary/two-top-uk-shares-setting-market-alight-right-now-ii515568?utm_source=newsletter&utm_medium=email&utm_campaign=NEW-DLY-ENGAGE-ii_afternoon_round_up_240321%20(1)&utm_content=newsletter&spMailingID=12675078&spUserID=MTIxNjc2Mzg5MzQ0S0&spJobID=1715287032&spReportId=MTcxNTI4NzAzMgS2
That £54M cash on the balance sheet is really substantial considering the entire MCAP is only £239M
blahblah- quite agree. Short-sighted market not wearing its specs. Not that I mind, having pinched its stock in BMY from right beneath its nose and made a break for it! Will make hay come the time.
Peel Hunt raises price target to 325p from 290p
GLA
Market seemingly surprised by the obvious boom in book sales and uninterested in the emerging growth from wise investment in lucrative digital resources. Hopefully more surprises ahead!
*reasonable current value 330-350p*
Correction, unlikely to matter to anybody besides myself, though still worth making!
Further trading update this AM to advise: ‘significantly ahead of upgraded expectations’- confident announcement from historically cautious board. Believe SP far lower than ought to be, following yet more market miscalculation. Remarkable given first update, though seems you can lead a horse to water...
Reasonable current value 320-330p in my view and believe when wider market eventually catch on, all-time highs not out of question. Those not already holding have rare second bite today.
Last week there was some heavy selling - large quantities - likely an institutional investor rotating.
Overall, I reckon BMY stand to gain from the end of lockdown trade. Bookshops like Waterstones can re-commence selling their books etc.
BMD wise, I reckon there will be increasing demand high value educational content (no I am NOT talking about Udemy / Khan Academy!). Given how lockdown has changed our lives and habits long term - i.e. meetings with zoom, meeting international clients via zoom etc.
Scooby- quite agree and appears some may have miscalculated in that judgment. Grateful for it though, as facilitated top-up yesterday at 19% discount from recent highs.
BMY board have made sterling work of navigating COVID and I too am confident in results to come. Given that board tends to be conservative in its outlook, I believe your qualitative research stands up well!
andsoforth- thanks for sharing. Peel Hunt hit nail on the head- recent retrace 'unmerited given the strong series of CoVID updates, and perhaps reflects the inevitable hiatus in news flow'.
Topped up at discount of 19% from recent highs- many thanks to those who sold recently!
Also an upgrade from Peel Hunt today, with an "add" and a target of 330. PER is currently 16, so with the the profit "well ahead" in January 330 seems a very fair price.
Investor0109 - I think some PIs may be thinking BMY is a "benefitted from Covid" stock so come to the end of the lockdown, sales, potentially may not be so robust. When lockdown first started, and the lights went out, no one was sure of how BMY would perform. In fact they thrived in such conditions.
The tedium of lockdown let to a surge in reading books, cookery books and for their Business Media Division (BMD) that must have significantly gained value the lockdown.
Now, with the end of lockdown in sight, will people continue with their reading habits? Even Nigel Newton, CEO does not know. I can only imagine that books sales will continue to be in huge demand for people commuting to work, relaxing during their summer hols, or reading before going to sleep. As for the BMD, I reckon that this is a blockbuster already in the making. At the end of lockdown, this platform will continue to play a pivotal role for educational institutions providing valuable courses online to their students.
In any case, the period from Nov 20 - Mar 21 (5 months) - must have been massive for BMY. Am I convinced that BMY smashed 2020-21 year? Absolutely. Big time. You just got to check out Nigel's glow in his eyes and beaming grin every time he is being interviewed! Now that's the definition of qualitative analysis!
Junior2020- recent high of 320p+ not seen since 2006, so expect recent retrace on profit-taking/de-risk as Scooby says.
Results due May expected to be strong and wouldn't be surprised if SP were to move back above 300p, though my view that 330-350p reasonable current value. Believe those with patience could see 350-380p this year.
Market often miscalculates and did so to an astonishing degree on BMY last year. Herd mentality- should the herd chase BMY's stock down the hillside, I'll be there to scoop it up again!
Someone is big seller - sold over 1 mn pounds worth of stock today. Hence why the SP is suppressed.
risk off day mate
Please explain why the sp is dropping on such positive news, ie why are investors selling? Board is pracically non exiistant though.
Blah- Thanks for sharing, couldn't agree more. Great buying opportunity at current prices- believe reasonable current value 320-350p, though don't consider 350-380p out of reach in time. Confident that those who bought at 180-200p will double their money.
Comprehensive overview from John Harrington at PI indicates this business is booming and poised for more growth:
http://www.proactiveinvestors.co.uk/companies/news/941250/bloomsbury-publishing-flourishing-with-formats-old-and-new-941250.html
Market in a muddle- believe that BMY undervalued and recent retrace provides great opportunity.
Oct. 2020 interims reported highest first half earnings since 2008. Trading update some 2 months ahead of usual Mar. 19th announced particularly strong trading, likes of which not seen for years. The first ever profit upgrade in BMY's history (thanks, Bazzaman).
BMY results usually weighted toward back end of year- due in May. My view is that it's not the time to sell BMY.
ST raises to 330p. TU says "well" ahead of market expectations (and I think they are SERIOSULY well ahead given how prudent the broker's forecasts are and how lockdown actually benefits them). Yet given the SP action, you'd thought they gave a profit warning! Nigel, CEO says something along the lines of, "In all my career (and he is certainly not young!) , I have not seen such an interest in books....." - which translated = BMY are milking it big time.