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My thinking is that the shares are rising on the expectation of good results when Ashtead have their first quarter update and AGM on 7th September, and that if results do not exceed expectations there will be a lot of profit taking.
Deutsche Bank, at it again: Sell AHT but, big deal, target price raised from 650 to 710 !
It's little wonder their share price has fallen through the floor with such analysts.
An interesting article in The Times on Saturday (Mark Bridge's Share of the Week) stated that Ashtead Group has net debt of £2 billion against £1.5 billion of net assets and that the company stands to lose about £10 million of pre tax profits for every percentage point rise in interest rates. He gave a recommendation of hold.
In the long run a Brexit result should not affect AHT per se, most of its business and profits being in the USA. It's more the American economy and election that will affect them.
Thank you for your most recent post Discodave. The most considered, well put and understandable I have read on this Share Chat! I have held AHT since 2002 only selling and buying to put them into ISAs and realise my original investment. As long as Geoff Drabble is CEO I shall stick with them.