Paul Scott small Cap Value Report - My opinion - super-bullish, as I've been constantly saying here30 Sep 2020 14:32
My opinion - super-bullish, as I've been constantly saying here in recent months. I see this as a unique business, with unstoppable momentum in trading, and expansion. The multi-brand approach, and soaring international sales (now nearly half the total, and growing faster than the UK), mean that this is an almost unique growth proposition.
I think this is a hold forever position for me now, irrespective of valuation. Even if the valuation does become stretched (which it isn't now, in my view), then the group grows into it so fast, that pullbacks are just pauses in the bigger picture.
There's a lesson from the chart below - ignore the background noise, and focus on the company's strong fundamentals.
.957b40667745acca0a3148719c426b453ee1d6f81601454548.png
.
The rest of the accounts look clean to me.
I think it's heading for 10p per share EPS, and probably double that within another 2-3 years. Hence I reiterate my view that this share could be worth 800-1000p in the medium term.