Cerillion Share Price (CER)

Feels like a good time now for a long term investment, with "time" invested should offset the expensive price as long as they keep delivering .

Matt, you're right, the institutions loaded up at 1500 since it was nearly 24% higher and closer to fair value. I agree with their approach. When you compare CER stock to something less trend you can find better downside protection like KNOS or even GAMA where the risk reward is not the same due to pedestrian growth, but on valuations they are possibly better in the long run. It is therefore key to add to CER cheaply as possible. I think we are nearly there.

I used 13% on 2024 EPS to get to 59p EPS fy25. There's circa £1.18 in cash so strip that out from £15.80 to £14.62 and that's x25 earnings fy25 going to probably x22 fy26.

Best guess. You generally have to pay for quality this good and balance sheet this clean.

Well the institutions filled their boots at 1500. They obviously see something you don’t

If you are confident then this is a buy but at 33x P/E today, there’s little margin for error, any slip in growth or telecom spending could see shares re-test the low-1200 p area. I would want a bit more cushion, watching for a pullback toward 1 400–1450 p (25–30 x P/E) might offer a better risk/reward.