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HSBC CUTS GO-AHEAD GROUP TO 'HOLD' ('BUY') - TARGET 1,340 (1,215) PENCE
Feel like market is waiting to see if we can open up without restrictions returning. It looks like HSBC have cut to hold but raised price to 1340 which makes sense in the current situation. Seems like an overreaction to me, perhaps it will bounce up and down between here and mid 1300s for a bit.
I've topped up. I don't see any real reason for this drop. I wondered if it may be to do with the possibility of foreign holidays being more likely. It's a long term hold for me anyway.
This has been oversold today based on the news that the Stagecoach family sold £11m worth of shares so has dragged it down. A great buying opportunity as this will bounce, tomorrow.
Agree that much of the drop is likely to be due to the Stagecoach family disinvestment (Firstgroup also down a similar amount).
It seems a huge over-reaction and like you I expect a bounce very soon - not just here but for SGC and FGP too. Duly topped up.
Over the years this has been one of my best shares paying over £1 a share in dividends. However I cannot understand the big rise from their recent low in view of the fact that all the buses I see are empty and a great number of people will continue to work from home.
90% of their business is contract driven so they are paid even if the busses are empty. Would have thought these will get renegotiated sometime if travel does not return to normal.
This is completely inacurate. Less than 5% of all work carried out by Go-Ahead is contract driven. For example, Brighton & Hove buses have less than 1% contracted work and that includes council routes. Govia has closer to 0%. Just because they're franchised like the rail, doesn't mean it's contracted.
What?
In the half-year results published on 11th March: "• 90 per cent of revenues secured through contracts with no revenue risk from changes in passenger demand".
Am I missing something?
Hi, the 11th march rns does say that its 90%contract driven
Why on earth is this still dropping like a stone,SGC and Nex are not dropping anymore?
It seems to be closely following FGP now. Though I think yesterday's sudden drop was instigated by the stagecoach RNS. It has done this type of drop before over the past 6 months, where there has been no clear reason, and then bounced back quite strongly.
Unfortunately I mistimed this one and bought in yesterday at a fair bit higher. Not going to sell though, this share often behaves strangely and for me that's because it's manipulated by funds.
Incredible you have the likes of Gog still making profit and IAG burning through cash yet its Gog with the big falls.Will keep holding this and Nex and expect them both to do good down the line.atb