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(Sharecast News) - Analysts at Berenberg raised their target price on audiovisual distributor Midwich Group from 590.0p to 620.0p on Monday, stating the firm's recovery had begun.
Berenberg stated the recovery story it highlighted at Midwich was "clearly well underway", with the company indicating in its annual general meeting statement trading was "already ahead" of management expectations just four months into 2021.
The German bank said this prompted it to raise 2021 adjusted pre-tax profit estimates by around 10%, with smaller upgrades to outer years.
"The company is now quickly delivering on the strong position going into 2021 that we had highlighted at its FY20 results. The market has not yet taken notice, however, with Midwich only trading 26x P/E despite a forecast 32% earnings CAGR over the 2021E-2023E on our base estimates," said Berenberg, which also reiterated its 'buy' rating on the stock.
"We still believe there may be further upside so we would encourage investors to pay attention now as the strong recovery story continues."
1 Mar 2022 16:01
UK earnings, trading statements calendar - next 7 days
| Wednesday 2 March | |
| Polymetal International PLC | Full Year Results |
| Just Eat Takeaway.com NV | Full Year Results |
| Vistry Group PLC | Full Year Results |
| Nichols PLC | Full Year Results |
| Hotel Chocolat Group PLC | Half Year Results |
| Devro PLC | Full Year Results |
| KRM22 PLC | Full Year Results |
| Supermarket Income REIT PLC | Half Year Results |
| Foxtons Group PLC | Full Year Results |
| Persimmon PLC | Full Year Results |
| Hiscox PLC | Full Year Results |
| musicMagpie PLC | Full Year Results |
| Vivo Energy PLC | Full Year Results |
| Aviva PLC | Full Year Results |
| Thursday 3 March | |
| Admiral Group PLC | Full Year Results |
| Avation PLC | Half Year Results |
| Coats Group PLC | Full Year Results |
| CRH PLC | Full Year Results |
| Darktrace PLC | Half Year Results |
| Dotdigital Group | Full Year Results |
| Elementis PLC | Full Year Results |
| Empiric Student Property PLC | Full Year Results |
| Entain PLC | Full Year Results |
| Franchise Brands PLC | Full Year Results |
| Galliford Try Holdings PLC | Half Year Results |
| Hansard Global PLC | Half Year Results |
| Hutchmed (China) Ltd | Full Year Results |
| ITV PLC | Full Year Results |
| London Stock Exchange Group PLC | Full Year Results |
| Meggitt PLC | Full Year Results |
| Melrose Industries PLC | Full Year Results |
| Mondi PLC | Full Year Results |
| PageGroup PLC | Full Year Results |
| Rentokil Initial PLC | Full Year Results |
| Schroders PLC | Full Year Results |
| Spire Healthcare Group PLC | Full Year Results |
| Synthomer PLC | Full Year Results |
| Taylor Wimpey PLC | Full Year Results |
| Tritax Big Box REIT PLC | Full Year Results |
| Tyman PLC | Full Year Results |
| Friday 4 March | |
| FBD Holdings PLC | Full Year Results |
| Hammerson PLC | Full Year Results |
| Morgan Advanced Materials PLC | Full Year Results |
| Monday 7 March | |
| Blackbird PLC | Full Year Results |
| Clarkson PLC | Full Year Results |
| Downing Renewables & Infrastructure Trust PLC | Full Year Results |
| HgCapital Trust PLC | Full Year Results |
| MTI Wireless Edge Ltd | Full Year Results |
| Tuesday 8 March | |
| Ashtead Group PLC | Q3 Results |
| Bakkavor Group PLC | Full Year Results |
| Capital & Regional PLC | Full Year Results |
| Capricorn Energy PLC | Full Year Results |
| ConvaTec Group PLC | Full Year Results |
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| Domino's Pizza Group PLC | Full Year Results |
| Engage XR Holdings PLC | Full Year Results |
| Fresnillo PLC | Full Year Results |
| Glenveagh Properties PLC | Full Year Results |
| Greggs PLC | Full Year Results |
| Gresham Technologies PLC | Full Year Results |
| H&T Group PLC | Full Year Results |
| IWG PLC | Full Year Results |
| John Menzies PLC | Full Year Results |
| John Wood Group PLC | Full Year Results |
| Johnson Service Group PLC | Full Year Results |
| Keller Group PLC | Full Year Results |
| M&G PLC | Full Year Results |
| Made.com Group PLC | Full Year Results |
| Midwich Group PLC | Full Year Results |
| Robert Walters PLC | Full Year Results |
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