Member Info for rivaldo

Arden have released a replacement research note. They retain their 280p target price and 19.3p EPS forecast this year - a P/E of just 7.1 - here's their summary:

Https://research.arden-partners.com/portal/portal.html

"Buy
Target Price: 280p

Trading Statement – Improvement and Opportunity

Continuing improvement –

Anexo has released a pre-close statement ahead of final 2021 results on 11 May 2022. With current trading in line with management’s expectations, recovery in Bond Turner and industry dislocation playing to Anexo’s strategy and capabilities, we believe the group has re-entered a strong growth trajectory which will deliver excellent shareholder returns over time. Reiterate buy.

Increasing focus on quality in credit hire – the successful launch of the MCE referral contract in November 2021 provides Anexo with the scope to be more targeted in the cases it takes on, driving more efficient use of capital and higher margins and should enable quicker recycling of funding through the business. In our view, the market has yet to fully understand the positive impact of this on Anexo.

Legal processing accelerating – The re-opening of the court system supports accelerating cash collections at Bond Turner for reinvestment in credit hire and housing disrepair. Cash collections have been rising and reflect the substantial capability Anexo has built in its legal settlement capacity. In Housing Disrepair, growth remains strong and will further benefit from marketing through 2022.

Further growth funding secured – Anexo has secured further debt funding for growth, which combined with more efficient capital use and faster cash collections, provides excellent headroom for the Group to continue to expand across its various business lines. The MCE contract provides validation of the Group’s strategy and market position and gives visibility of a referral stream to provide lenders comfort over the growth potential in the business and demonstrates the demand from lenders to put capital to work in Anexo’s business.

Investment thesis and valuation - We have argued for over a year that Anexo was in prime position to take significant share in credit hire and become an integral part of the insurance claims processing industry. With strong momentum across all businesses, we swee further share gains and likely upward pressure to our 2022 forecasts. At only 7.1x 2022E P/E on our forecasts, the shares are excellent value in our view considering the market position of the Group. Buy."

A nice 408,996 share buy just now at 124p, followed by another buy of 258,418 shares at 124.5p

Good to see the Naked Trader mention SUR briefly in his update yesterday:

"Sureserve still looks undervalued at the current price"

A very nice close last night, with a 32,685 share buy at 107.5p and other buying at 107p and 107.5p.

And Golden Rim has announced overnight that drilling has begun at its Kada project in Guinea - CAPD are the contractor here:

Https://www2.asx.com.au/markets/company/gmr

"5,000m of drilling is planned"

"Drilling is planned on seven prospect areas"

...and this week's total US rig count continues to trend upward, up another 3 to 673 rigs, up in 9 of the last 10 weeks and up from 430 a year ago:

Https://finance.yahoo.com/news/permian-oil-rig-count-increases-124212815.html

Last month's issue of Momentum Investor had SUR as its main Buy tip. The new issue has been out for a while now, so it should be OK to copy parts of the conclusion from the tip FYI:

"Sureserve is a highly cash generative business and has swung from net debt of £11.4m at FY'18 to net cash of £16.5m at '21 and Smith is determined to put this cash, alongside that debt facility, to good use through further acquisitions.

Within Compliance this will be in the form of in-fill gas service businesses to improve its geographic coverage and utilise their staff, vehicle fleet and contracts......Within renewables he is aiming to buy in expertise in the areas of solar, lighting, battery technologies and heat pumps with the target ideally making revenues of £5m-£15m and EBIT margi of 10-15%. Such a deal would likely cost 6-8x EBIT, he says.

Slater increases stake

One final point in its favour is that Sureserve's contracts provide a block of strong earnings visibility and its order book already covers 73% FY'22 revenue, 46% FY'23 and 33% of FY'24. Anyone buying the shares is in good company; Slater Investments, the investment vehicle run by Mark Slater, recently increased his holding to 15.16%. Trading on a P/E of 10.4 falling to just 9.7, the shares are cheap. I am a buyer."

Arden reiterate today their Buy and 280p target price.

Just received the April factsheet for Keith Ashworth-Lord's CFP SDL Free Spirit® Fund. There's a nice mention for CLX, which now comprises 4.52% of the Fund and is the sixth largest holding:

"Of the gainers, Calnex Solutions, a recent addition to the portfolio, led the way following a positive trading update pointing to FY22 revenue and profit in line with market expectations but, more importantly, FY23 expected to be materially ahead."

UK Government set to double 2030 hydrogen power target to 10GW

The Government has issued £400m to explore the development of innovative low-carbon technologies such as hydrogen, with reports emerging that a 5GW national capacity target for hydrogen will be doubled to 10GW. Of which 5GW is set to be green hydrogen - GTC's area of expertise:

htTps://www.edie.net/uk-government-set-to-double-hydrogen-power-target-to-10gw/

Https://masterinvestor.co.uk/equities/small-cap-updates-on-ted-sce-flo-pier-blv-and-char/

"Surface Transforms (LON:SCE) – beginning to get ready for revving up

I was pleased to see that analysts Raymond Greaves and Michael Clifton at finnCap have now upped their price objective for this group’s shares.

The announcement on Monday obviously pleased the duo, enough to heighten their aim from 69p to 80p a share.

Their note is headlined ‘FY2021 in line, all eyes now on FY2022 and beyond’ and they are so right.

This £108m capitalised carbon fibre reinforced brake discs maker has so much potential over the next few years.

It is a ‘developing situation’ and I do see its shares, which closed at 56.5p, as destined for far higher climes – 100p, 150p, 200p within the next three years or so is more than possible."

Progressive Equity Research have issued an update note this morning.

They forecast 19.2p EPS this year, so almost exactly the same as Finncap, for a P/E of only 7.1.

In summary:

"Confident trading update and increased debt facilities

Following a strong January trading update and forecast upgrades, Anexo has issued a confident trading statement ahead of its 2021 full-year results announcement on 11 May."

Chrysos have announced they're about to IPO in Australia. So the IPO documentation will likely have some info on their rollout arrangement with CAPD and reflect nicely on CAPD's MSALabs division and its prospects. Here's the latest news - looks like the launch is going extremely well:

Https://www.afr.com/street-talk/chrysos-ipo-covered-at-6-50-sh-637m-mkt-cap-20220407-p5abph

Https://www.afr.com/street-talk/chrysos-makes-seven-point-ipo-pitch-fundies-ready-for-pricing-talks-20220330-p5a98s

"Chrysos management is making a seven point pitch, starting with the “large, unpenetrated” total addressable market and including the company’s “highly disruptive technology”, “attractive customer value proposition” and scalable business model.

Management also told potential investors that their PhotonAssay technology reduced carbon emissions and lead contamination for miners."

Finncap reiterate their 40p target price here.

They also keep their 1.8c EPS forecast this year, which of course excludes any value for SABER.

Plus they forecast a $3m cash pile at March'23, so plenty of spare cash in hand.

Very good news today in the year end trading statement as regards H2 trading in particular.

H2 revenues more than doubled from H1 to $4.9m, and in H2 NTQ achieved $0.9m adjusted EBITDA.

With the oil market only getting better and better, NTQ are therefore well on track for Finncap's forecast this year of $10m revenues and 1.8c EPS.

Plus the $4.9m cash pile (against a mere £9.7m m/cap) is much better than Finncap's forecast (of $4m) and is more than sufficient to commercialise SABER, which is "on-track for commercialisation during 2022". It's great to hear definitively for a "market disruptor" that:

"Testing has demonstrated that SABER's unique steering concept can generate sufficient steering forces to perform effectively"

plus the "applications in geothermal, oil and gas and methane capture".

Onwards and upwards from here I suspect:

Https://uk.advfn.com/stock-market/london/enteq-technologies-NTQ/share-news/Enteq-Technologies-PLC-Year-end-Trading-Update/87777489

Very happy with today's year end trading statement, with trading nicely in line with previously upgraded expectations.

Which means historic 16.8p EPS (up from 11.4p EPS in 2020).

For the current year, Arden forecast 19.3p EPS, so ANX are now on a P/E of just 7.1.

Importantly, cash collections and settlements have improved - and new increased loan facilities and litigation funding has been obtained, showing management's ambition and the confidence of the banks in ANX.

All divisions are trading well and have good growth potential, as outlined above.

Plus there's the kicker of the large VW case settlement receipt coming into view hopefully this year.

All looking good imho:

Https://uk.advfn.com/stock-market/london/anexo-ANX/share-news/Anexo-Group-PLC-Pre-Close-Trading-Statement/87777377

Shore Capital's new note published post-results has forecasts of 40.6c EPS this year, rising to 46.5c EPS next year, i.e around 30.5p EPS rising to 35p EPS next year.

That's a P/E at 380p of 12.5, falling to 10.9.

The note concludes as follows:

"Valuation

At 430p and 13.6x EV/EBITDA for FY22F (13.9x PER), the balance of medium-term opportunity versus risk looks attractive to us, given KAPE's high-growth potential and other factors. Backing this is strong execution to date (both organic and M&A) and the growth prospects for the enlarged Group. With high recurring revenues, a large and growing user base and a strong earnings outlook, KAPE looks well set for the year ahead and beyond."

Stuart Hawthorne continues to buy - he now has over 8% of GTC, owning 5.363m shares:

Https://www.investegate.co.uk/getech-group-plc--gtc-/rns/holding-s--in-company/202204061214554984H/

ETP's subsidiary Cenergist has a large contract with Leeds City Council to install solar panels, heat pumps etc.

It seems from this report a few days ago that the contract is going well:

Https://www.blmforum.net/mag/green-upgrade-project-hits-half-way-mark-in-leeds/

"Green upgrade project hits half-way mark in Leeds
30th March 2022

Work to spend more than £25m on green upgrades across 40 public buildings in Leeds has hit a significant milestone with confirmation that installation work is finished at more than half of the sites – with almost 30 jobs created.

Eight leisure centres, twelve primary schools, four homes for older people, two popular attractions, four civic buildings, a children’s centre, a community hub, and six other council-owned buildings across the city are all receiving upgrades....

More than 7,500 solar photovoltaic panels are being installed as part of the programme. The panels mean that dozens of council buildings will soon become part—or on good days fully—powered by local renewable electricity, helping to reduce the council’s reliance on increasingly expensive and less clean energy imported from the national networks.

61 new heat pumps and four new connections to the low carbon Leeds PIPES district heating network will also reduce the council’s use of gas combustion boilers, helping the authority save money and improve local air quality.

Leeds City Council bid for the funding last year as part of the ‘Public Sector Decarbonisation Scheme’ from the Department for Business, Energy and Industrial Strategy.....

“It is really pleasing to see the progress being made across the city through the Public Sector Decarbonisation Scheme and I look forward to seeing the schemes impact on tackling the climate emergency.”

Huge volumes today! 153.2m shares changing hands already...the 74,566,162 trade is the exact amount of the Business Growth Fund's holding in INSE, so I suspect this has been placed out to other holders.

Perhaps the closing of an overhang? Could be good news if so.

I've been a bit behind the curve here, and only just had the realisation that ANX's McAms subsidiary covers not just motorcycles for leisure, couriers etc, but also food delivery bikes (Yamaha 125s for example) and scooters.

No wonder this division has been growing so fast given the rise of Deliveroo, Uber Eats, Just Eat etc. Particularly as most of these drivers are such a menace zipping in and out oand between cars and must have loads of accidents.

I may have to rethink my price targets upwards :o))