Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Yes, very reassuring. Nice to be able to add more this morning under £5.00.
But RBC are very bullish according to that proactiveinvestors report.
Anyway, I for one, added more b&m this morning, looks compelling to me.
Yes, they downgrade, target price down to 513p
Can you ever trust any of the brokers?!!!
RBC raised their rating to outperform with revised target up from 615p to 650p.
The markets seem to like the possibility of b&m acquiring wilko
I agree, it's still speculative.
This recent run has me firmly in profit after passing the break even point a month ago. We've been here before so the decision now is whether to hold or take profits. Tricky!
I'm encouraged by the performance of Heron and in France and still believe a special dividend is likely later this year.
Investors Chronicle: "Stores in France are also proving popular, with sales up 29 per cent. Chief executive Alex Russo said the group remains “relentlessly focused on price, product and excellence in retail standards”.
Well said, totally agree.
Bit of a surprise with the initial market reaction.
Peel Hunt noted “the shares have had a great run but we are slightly concerned about valuation, so stick with a hold.”
Shore Capital also kept its hold rating. “We remain cautious due to the increasingly challenging year-on-year comparisons expected for the remainder of the year, a worrisome increase in shrinkage, and the potential need for price adjustments to support low-income UK consumers,” it said.
No-one knows for sure but signs are positive to at least keep at these levels. Tomorrow's update should give an indication.
Bank of America raised it's target price to £6.75 today.
There's a trading update due on Thursday. This what Proactive Investors says:
"B&M European Value Retail is another of this week’s stocks on the rise, edging back towards all-time highs after announcing last month that sales for the first nine weeks of the financial year were up by 8.3%.
Analysts said the update put to bed any concerns about an easing of the trend towards trading down and expects confirmation of healthy trading in Thursday’s trading update"
Back above the 52 week high, looking positive.
"With momentum heading in the right direction, and 60 new stores expected to open this year, the growth strategy remains enticing. Buy."
It seems consensus is very positive right now with further rise this morning, also bullish broker ratings.
Barclays - overweight, target 565p
Goldman Sachs - buy, target 650p
Sp touching 5.00 again despite the general markets being down today.
Nice sp reaction to todays announcement, results in line with estimates, divi as expected. Positive sentiment for growth in the coming year. If sales and profit also rise as expected a good special divi should be forthcoming.
Maintaining a fairly substantial holding with a small percentage for trading.
Elsewhere RBC commented:
"In our view, it remains cash generative, and we expect it to continue to look to return surplus cashflow to shareholders. We see potential for B&M to achieve a gradual re-rating as it delivers consistently positive LFL sales growth (as higher rated Dollar General has done in the US) and as the growth of France and Heron Foods become better appreciated by the market."
https://www.proactiveinvestors.co.uk/companies/news/1008124/b-m-receives-upgrade-and-target-price-hike-from-broker-1008124.html
"B&M should offer amongst the highest, most durable growth in the sector, driven by positive like-for-like sales and space expansion.”
In comparison, B&M's future growth plan is to increase their stores in the UK from 704 currently to 950.
Goldman Sachs has raised the price target to £6.00 with a buy recommendation.