share mag post 20 Feb 2014 14:07
Positive write up by "Shares" magazine ....
Buy: Accumuli
Cyber-security play offers prospect of high quality earnings growth
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Consensus is looking for earnings per share of 1.4p this year and 1.7p next, to leave the shares on a forward price to earnings (PE) ratio of just 11.8. While not strictly comparable, closely-linked peer NCC (NCC) trades on a forward PE of 20. Broker finnCap has a 25p price target but if earnings grow by 15% in fiscal 2016 to 2p and the market sticks a 15-times multiple on that - still a big discount to NCC - then Accumuli could be heading toward 30p, for potential upside of 50%.