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Share Price Information for Frontier Dev (FDEV)

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435.50    0.00 (0.00%)
Bid:
420.00
Ask:
434.50
Spread: 14.50 (3.452%)
Market Cap: £151.29m
FDEV Live PriceLast checked at - London Stock Exchange

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ShoreCap spies 'interesting entry price' into Frontier Developments, upgrades

Wed, 04th Jan 2023 13:35

(Sharecast News) - Analysts at ShoreCap upgraded their recommendation for shares of Frontier Developments from 'hold' to 'buy', telling clients that they were anticipating record sales over the 2023 financial year and a step-change in profitability.

Their new recommendation, they pointed out, also followed a downdraft that had seen the shares drop from about 1,400.0p in November to "just" 960.0p.

To them, that marked a "notable" discount to their favir value estimate of 1,350.0p - which was unchanged - and to its historical metrics " despite a larger profile of titles and an arguably more sophisticated model".

They were also anticipating improving margins and cash generation across their forecasted period which stretched out to FY2025.

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