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Bank of America cuts Persimmon price target to 3,000 (3,100) pence - 'buy'

JPMorgan cuts Persimmon price target to 3,060 (3,110) pence - 'overweight'

It’s a block from me too…

Wayzgoose— I think I can read and I have to say you are wrong. The crisis/war will go on for as long as it goes on for, stevebt wanted the shares to stay low as a result. He didn’t say he wanted the war to continue so the shares stay low.

FT Article

Superdry founder backs turnround for clothing retailer
Dunkerton raises his stake to more than 20 per cent

© Simon Dawson/Bloomberg

October 29, 2021 5:00 pm by Michael Fahy , Investors’ Chronicle
The winds of change in fashion can change quickly and brands that were once considered cool can fall out of favour quickly if they’re not properly nurtured.

Take Superdry, for instance. It had been a roaring success story, with sales growing rapidly after its 2010 IPO, as it became a global player and for a period in the middle of the last decade it comfortably outperformed the FTSE All-Share.

A noticeable decline in its valuation began in 2018, as founder Julian Dunkerton stepped down following a disagreement with then-chief executive Euan Sutherland over its strategy. Following a tussle for control, Dunkerton was reinstated as chief executive in April 2019.

Things haven’t gone swimmingly since — Superdry has posted three years of losses on dwindling revenues. Last month, it reported a 21 per cent decline in sales for the year to April 30 of £556.1m but pre-tax losses were cut to £36.7m, compared to £167m a year earlier.

Revenue picked up in the final quarter and Dunkerton argued that the business was being turned around and the brand evolved. Although its share price is up about 23 per cent so far this year, Superdry remains undervalued on many metrics when compared with peers and Dunkerton is clearly confident about its prospects. He has just spent almost £1m buying up shares, taking his stake in the company to 20.7 per cent.

Well if that update doesn’t convince people how cheap these are I don’t know what will. 60 million in the bank and a market cap of 100 million..... bizarre!!

As Oasis management has also increased their stake it seems orders are still being filled. I’d expect this to rise steadily and quickly in the coming weeks

May be the price has been held down to allow this position to get done. We know there aren’t many shares out there to trade in superdry so the only way to pick large stock up is to panic people into selling. If Gatemore continue to add to there holding and now it’s out there that they are doing this and the fact they think there is a 300-500% upside I would hope the price should continue upwards and quite quickly. We all know these are a steal at this level for the brand and business we have...

https://corporate.superdry.com/investors/regulatory-news/rns-announcements/?rid=3761574

£40 million cash in the bank in may and only a burn of £7million from March. If they are seeking extra finances it’s to strengthen this position in case the Covid issue drags on... can’t see a rights issue

Why would there be a rights issue when we hold half our market cap as cash ..??

Like I say each to there own, but I do see young and older wearing it so what’s wrong with a large spread? Why do we have to target one over the other? If it appeals to whoever then buy it. It’s about style and quality for me that’s why I buy it. Superdry is the ONLY shop I can walk into and like pretty much everything I see on offer, I can honestly say that. My cupboards are full of the stuff, what I want to know is when will there be a shareholders perks discount?? For this company to have this market cap it’s a no brainer for me, I’m more than happy to be invested here. If you aren’t then that’s fine, I do have to question why you are here then and the usual reason is you’re shorting the stock so need to try and paint a bad picture. I’m afraid you’re not going to influence my opinion As my observations are different to yours..... roll on an update here!

I would say the target market is anyone that has an eye for quality. All my family wear superdry, you only have to walk down the road to see people wearing superdry. The market is wide and varied and it appeals to a wide variety of groups. Why do we have to target a specific when we can target all... I would agree though that the young are fickle and if they want to shop elsewhere that’s fine it’d be boring if we were all the same. As long as we can sell I don’t care who it’s to...

I think BP will be very much a part of wherever the green future takes us

There’s been a few broker recommendations ranging from £5-50 to £6-50 a share. I rate these as a buy as the drop has been overdone in my view. I like the brand very much and am more than happy to hold for a few years and wait for £10+ to return.
On another note I visited the Solihull branch the weekend which was busy and I chatted to the shop assistant who said business was picking up and that several lines had sold out very quickly online over the Black Friday week....

It seems we are on track, this is a buy for me at this level

Did anyone else go to see Kryso at the exhibition in London on Saturday? I went along and had a good chat to one of the guys on the stand. I asked the question about financing and he said they would explore all options but would probably look to raise 30% by equity and 70% by loan facility if a joint venture wasn't forthcoming. He said all offers of a JV would be explored and also using BGRIMM to do the BFS was a strategic move to raise awareness of Kryso with the Chinese. He spoke of the possibility of the Chinese looking for a JV or a clean takeover and that Kryso would look very closely at any reasonable offer. He spoke of the other areas on there licence that definitely have gold mineralisation but have yet to be explored due to funding. Pakrut is there prime target and all other areas are on hold until pakrut is operational and profits are forthcoming. The drilling has stopped for the moment due to snow but this wouldn't be a problem once the mine is operational with avalanches being controlled with explosives if needed so the mining operations should not stall in the winters. They don't think power will be a problem and although I asked for information from the BFS all he would say is it hasn't churned out any problems as yet. The underground mine will be smaller than the open pit so there should be no extra cost and even though we will be hitting higher grade gold the 100,000oz a year forecast will not increase as the mine is smaller so will produce less but at higher grade so in conclusion the mine shouldn't cost any more and we should still be on for 100,000oz a year. He was bullish on the gold price as were most of the people I talked to at the show. I asked about the downgrade from FD and he dismissed it as sour grapes due to Kryso releasing them of there brokerage duties. I said it was a strange thing to do this close to the BFS when they would probably have to re-rate them higher again. He said they will probably cease covering Kryso after this. I came away very happy with my investment and look forward to the BFS and our inevitable share price rise in time.