Next 12 months17 May 2023 09:22
So 12 month view from here - My view is this is way undervalued. If you bought post covid or about a year ago you are close to or well in the money. Its up 37% YTD even after the pull back. The turnaround has taken time sure but if it is going to start performing this is the time it should start to accelerate. The company is clearly much improved on three / five years ago and should perform well into the next year or so. Its clearly not the most exciting sector but on a value play it should do well. The FTSE 250 is prime for a big rerating and the macro picture will improve as interest rate cycle is close or at the top. The hack does still provide some questions but all the articles (super interesting for sure!!!) are simply filling column inches with no real news flow. I think Capita may lose some business but not as much as they are generating. The balance sheet is in really good shape and provided we get that ongoing FCF the share price will move upwards in my opinion.