Ben Richardson, CEO at SulNOx, confident they can cost-effectively decarbonise commercial shipping. Watch the video here.
Yeah i am an employee. Not much insight to results tbh. My guess is we will meet expectations and an increase in dividend which is expected. Not sure there will be any fireworks. But with booker deal I think next few years is looking promising. I have one more year left on my scheme. Hopefully can see at least 250p by then:)
Tesco to be transformed by Booker acquisition, in JP Morgan Cazenove's view 10:13 15 Mar 2018 "We see Tesco as a visible turnaround with moving parts (eg, new management, access to new markets, synergies, cost savings, legacy assets)," the broker said Tesco lorry "Booker adds new addressable market potential and strong execution capabilities with Charles Wilson now at the helm" For the first time in five years, JP Morgan Cazenove feels able to recommend that its clients buy shares in supermarket giant Tesco PLC (LON:TSCO). The Booker acquisition is transformational for Tesco, according to Cazenove, not least because it brings Charles Wilson on board as boss of Tesco’s retail and wholesale operations in the UK and the Republic of Ireland. READ: Tesco gains as Barclays reinstates 'overweight' rating after Booker takeover The acquisition also gives the retail giant a bigger addressable market; Caz reckons the majority of the wholesale market, valued at roughly £30bn, is new territory for Tesco. Throw in £200mln of synergies by 2019/20, as per management guidance – although Caz thinks the synergies will reach as high as £265mln – and the blue-blooded broker has been persuaded to slap an ‘overweight’ rating on Tesco, with a price target of 265p; its sum-of-the-parts valuation is 307p. JP Morgan Cazenove previously had no rating for Tesco as it was Booker’s corporate broker; prior to Tesco’s bid for Booker, Cazenove had an ‘underweight’ rating and 135p price target for Tesco. Shares in Tesco currently trade at around 216p, up 2.7% on the day. Cazenove is predicting Tesco – now with added Booker – will generate around £1bn extra in earnings before interest and tax (Ebit), £4.4bn of cumulative free cash flow and further net debt reduction of £2.2bn by 2020. “Our estimates incorporate Booker and are predicated on a conservative terminal UK operating margin of 3.5% (inc Booker and synergies), resulting in group operating margin of 3.8%. Our group EBIT grows by c20% on average over the next three years,” Cazenove declared. A slow-down in revenue growth represents the biggest risk to its ‘overweight’ rating, the broker cautioned. “No deal is without execution risk; however, given the strength of both management teams and the decent shape of the two businesses, we see execution as an opportunity,” Cazenove said. There is also a read-across to J. Sainsbury PLC (LON:SBRY), and it’s not a favourable one in Cazenove’s view. “We believe a stronger Tesco does not benefit Sainsbury given their geographic and customer overlap. We see Tesco’s strategy (seeking growth within wholesale, focusing on food, online and convenience) as more defensive than that of Sainsbury (focus on non-food),” the broker concluded.
What does techie see from the charts?
It's a week tomorrow
What price do we need to crossover the 200day average?
Current volumes are low so could we assume the shorters are closing even more as we speak which is causing the share price to increase.
Cheers. Would be nice if the shorters all bought back from now until trading update. Not sure why they've held on considering how low it went.
Still think it's going to hit 400p before trading update? I see they are trying to push it down as usual prior to results. Hopefully tomorrow and next week can be the start of a surge up
Who is we Appleby?
No I wouldn't say this has recovered yet. The share price was manipulated down from 460p before the report came out.
If you got to short tracker . Co . UK then type in pays in their search engine it will give you all the information. I bought some more at 301 and then a little more at 331 should of waited for decline to get them at 300 again but oh well. My average is currently 356. Had bought itmn the 200s before but took profit too early. Liked the share so much I got back in.
Good to see one of the hedge funds has closed their short position. Sand Grove have closed their short. Now hopefully the others will follow suit. Then the sp will fly up.
What did you make of the RNS?
Why do you think the tech sector is being hit?