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Panmure also reduces its target price for mid cap peer Inchcape (INCH.L) to 32 pence from 42 pence while retaining its "buy" stance on the stock.
Inchcape is the broker's mid-cap pick as it "should perform better than its UK pure-play peers, and a growing cash pile should allow it to invest in new opportunities at an exciting point in the cycle."
They wont be bad. The INCH dealer i work for has had the best year ever. As have a lot of the other dealers. Dont get me wrong, times are getting tough again on the shop floor, however the last 6 months have been very good.
I bought in too. When the results come out on the 10th, showing that INCH are debt free and profits are up, i think we should be past the 30s again. GL
Said before we have just had the Royal visit from Inchcapes CEO. He came and had a chat with the boys on the floor. When i asked him about the 10th of March, he just winked and shook my hand!! Make of that what you will. I also asked about the Toyota issue. He said that Inch would make more money off the back of it. Hold your nerve boys and girls.
I work for Inchcape with BMW and we have just had our best ever year, EVER!! And i know for a fact that most of the other Marks have too. March 10th results will be well above expectations..........