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Pin to quick picksGo-Ahead Share News (GOG)

Share Price Information for Go-Ahead (GOG)

London Stock Exchange
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Share Price: 1,299.00
Bid: 1,292.00
Ask: 1,300.00
Change: 0.00 (0.00%)
Spread: 8.00 (0.62%)
Open: 1,348.00
High: 1,348.00
Low: 1,291.00
Yest. Close: 1,281.00
GOG Live PriceLast checked at -

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Canaccord Genuity slashes target price on Go-Ahead Group

Thu, 1st Oct 2020 15:19

(Sharecast News) - Analysts at Canaccord Genuity slashed their target price on transport operator Go-Ahead Group from 1,500.0p to 950.0p on Thursday after the Covid-19 pandemic took its toll on the firm.
Canaccord said the coronavirus pandemic was "clearly having a significant impact" on Go-Ahead's operations, especially its regional bus unit.

However, while the Canadian bank said there may very well be "a lasting impact on travel patterns", it believes a "significant proportion" of Go-Ahead's pre-Covid-19 traffic will return and expects that the group can "right-size its business" to protect margins if necessary.

"We have trimmed our forecasts for the coming years, reflecting a slower recovery for regional bus, and reduced our price target to 950.0p," concluded the analysts, who also reiterated their 'buy' rating on the stock.

"We expect a limited profit contribution in the current year, with a meaningful recovery in subsequent years. Rail is expected to break-even, with modest de-risked UK profits offset by overseas losses."

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