I will take Peel Hunt's add 250p rating13 Jan 2023 01:05
Analysts were quick to cut their forecasts, with Peel Hunt reducing its pre-tax number for the current year to £52mln from £67.5mln and to £50mln from £72mln for the following year.
The broker cut its price target to 250p from 350p and lowered its rating to ‘add’ from ‘buy.’
“There is a lot of caution baked into those numbers, but visibility is poor,” it said, adding “the timescale of recovery in key markets is not clear”.