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Liberum: Serco shares oversold
Outsourcing group Serco (SRP) is ‘trading strongly’ and the shares are oversold, according to Liberum.
Analyst Joe Brent retained his ‘buy’ recommendation and target price of 180p on the shares, which rose 4.6% to 119.1p yesterday.
He said the group was ‘trading strongly’, helped by the contract for the test and trace system and despite problems at Merseyrail.
‘[Serco chief executive] Rupert Soames is adamant that test and trace is performing well and we think it is unlikely to disappear any time soon,’ said Brent.
‘Management is upbeat about the US in the most likely scenario of a Joe Biden win and a Republican Senate.’
Brent said given the opportunities ‘the shares have been oversold’.
I just wondering this stock it should be quite good stock however does not look like that, just wondering can jump up to 135 again soon by next week ?
Only just looked at this.
The Q3 update was excellent. Surprised this isn’t higher given the 15% organic growth through covid. Not many companies can boast that.
120p paid and more to come.
Attracting lots of attention as traders head for the non-bio stocks.
Back to 140p again, way oversold. I bought some at 111p.
There are people (not me) over on the Capita board (CPI) suggesting that Serco and Capita could merge.
CPI share price has been taking quite a hammering recently and it's possible the Serco and Capita together is just forlorn wishful thinking ....
I wondered what the view of LTH Serco shareholders is?
Good idea for Serco and Capita? Bad idea? Crazy idea? No way on earth?
Thoughts
Trenners
It looks like today is blue day fo this going up and no better news I suppose... strange market position this should be at least 130p depending on the current market situation but looks like oversold it may still go down If I can I will average down ...
I've got the hump with this share price, the more money the government chucked at them the more it went down. One tiny contract lost and kaboom :/
well they lost that little contract and thats about it really, not sure why it's tanking so much? so I've got a buy order for 99p, but doubt i will get it.
Lots of changes in the price downward movement everyday any bad news....
"At least the tax payer will be better off." - we'll still be paying for the service, it's just being provided in a different way.
I think we will be back to 140p after the news is digested...massively oversold on something that is not hugely material to the group IMO.
great RNS, in here
Cheeky mention on Ian King live too...
155P End day
Looking cheap now. Upgrade in guidance. Strong performance all round. Broker update to come. Buy imo.
SRP Bid:137.5p Offer:139p Change:20.0243
1st tranche buy today at 120.
probably realisation that track and trace is an absolute shambles?
Serco seems to keep sliding further down each day. Thought this was supposed to be a profitable company with a strong outlook ahead??!!
serco waste management in maidenhead all over the place, just useless. hopefully penalties coming their way.
how can this company make money on track and trace if the contract is well structured ?
Nice bounce off 135...Hopefully be tracing back upto the 158 region. Profitable company, good recent results & its forward guidance, if achieved, will prove to be better than many in the months ahead. Still scratching my head, with regard to the 20% fall in recent weeks. IMO 153-158 is achievable before Christmas...GLA
Agreed ive jumped in at 139. RNS had good numbers and Divi likely to return Q4 so would expect SP to recover over coming months. As you say GL the growth areas will suit this company with its deep Tory links.