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Liberum initiates coverage on CareTech with 'buy' rating

Mon, 17th Sep 2018 17:16

(Sharecast News) - Analysts at Liberum initiated coverage on CareTech with a 'buy' rating on Monday, noting that the UK market for social services was worth £16bn and still growing.Liberum said CareTech was one of "the most experienced providers" of child and adult social services, delivering above-sector regulatory scores, below-sector staff churn and margins more than double that of its peers.The broker said that continued execution implied a standalone valuation of more than 437p per share, but noted that CareTech's "game-changing" acquisition of Cambian could add more than 20% to mid-term earnings per share.Liberum said: "Strategically, the deal will significantly enhance CareTech's market position, giving it a leadership position in children's services to match that of its adult business. Financially, the deal is significantly beneficial to CareTech, delivering mid-term EPS accretion of at least 30%."Triggering the 'buy' rating was Liberum's target price of 525p per share.
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24 Jul 2018 14:16

UPDATE: CareTech Holdings Revises Offer To Acquire Cambian Group

LONDON (Alliance News) - Social care services provider CareTech Holdings PLC said on Tuesday it has submitted a revised proposal for the acquisition of children's service provider Cambian the

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24 Jul 2018 12:26

CareTech Holdings Revises Offer To Acquire Cambian Group

LONDON (Alliance News) - Social care services provider CareTech Holdings PLC said on Tuesday it has submitted a revised proposal for the acquisition of children's service provider Cambian the

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14 Jun 2018 13:30

CareTech Lifts Dividend Payment On Interim Profit Jump

LONDON (Alliance News) - Social care services provider CareTech Holdings PLC on Thursday lifted its dividend payment as it posted a 21% jump in first half pretax profit on the back of lower costs,

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10 May 2018 14:11

CareTech Confident As It Performs "Solidly" In First Six Months

LONDON (Alliance News) - CareTech Holdings PLC on Thursday said trading for its recently ended first half has met expectations, underpinned by its recent strategic initiatives.Net capacity

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6 Mar 2018 13:45

CareTech Holdings Confident Going Forward As It Performs In Line

LONDON (Alliance News) - CareTech Holdings PLC said Tuesday at its annual general meeting performance in its year so far has been in line with expectations.The social

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16 Jun 2016 07:45

CareTech Notes Shift To Higher-Margin Services After Profit Rises

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22 Apr 2016 07:26

CareTech Posts In-Line Update, As Acquisitions Performing Well

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15 Mar 2016 09:13

CareTech Acquires Brain Injury Specialist Oakleaf For GBP20.3 Million

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1 Mar 2016 15:11

Tuesday broker round-up

(ShareCast News) - Rightmove: Canaccord downgrades to hold with a target price of 4100p and Deutsche Bank reiterates hold with a target price of 3200p. IAG: HSBC reiterates hold with a target price of 620p and Investec maintains buy, 740p target. Rio Tinto: RBC upgrades to sector perform with a tar

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23 Feb 2016 16:08

AGM, EGM Calendar - Week Ahead

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19 Feb 2016 09:41

CareTech raises £30m in ground rent agreement

(ShareCast News) - Social care provider CareTech said it had raised £30m in cash to support its growth strategy through a ground rent deal. Under the terms of the agreement, the freehold to 41 CareTech properties will be transferred to Alpha Real Capital's managed funds in exchange for the cash and

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19 Feb 2016 08:18

CareTech Strikes Ground Rent Deal To Raise GBP30 Million

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8 Dec 2015 07:59

CareTech Profit Dips On Costs, But Revenue Ticks Higher

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1 Dec 2015 09:34

CareTech expands to acquire ROC North West

(ShareCast News) - CareTech Holdings will acquire ROC North West and all of the children's residential properties which it operates from for up to £11.425m. The AIM-listed specialist social care services provider announced the deal on Tuesday. It said it will pay an initial cash payment of £8.725m,

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1 Dec 2015 09:17

CareTech Acquires ROC North West For Up To GBP11.4 Million

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