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Restore Plc (RSTP)

London
Currency in GBP
Disclaimer
223.50
+3.50(+1.59%)
Closed

RSTP Price Commentary

After the drop from 290 earlier last month. I wonder if this will go straight back to that before steadily moving on when things become clearer on the company path.
The King is back and the ship now has a solid course. .!
Theres a lot of hidden value here. The statutory earnings were in negative territory due to a non-cash impairment of £32.5mn on the carrying value of the investment in Restore Datashred. If you added the inpaiement to the projected £31 profit forecast thats £63million profit for the year. On a pe ration of 6 thats a conpany valuation of £378 million. Way above the current price and more like £3.00 plus +++a share .
No surprises here. £2 plus easilya xhievable short term. The deop has been i erspne and hige value to be had here. An analyst from Citi maintained Restore (LON: RSTP) at 'buy' with a price target of GBP2.40 from a prior price target of GBP3.00.
A prime takeover target at this level. Marlow offerwd £5.60 in 2021. The sharks will be looking hard after the results yeaterday.
£31 million end of year profit projection for a company worth only £178m. With a write down of £25m for the new business integration. This is a super company thats had a blip.£2 should be tested within a week. “ . The company added that efforts were underway regarding its management succession strategy, adding that it would soon update on the search for a permanent CEO and CFO.Looking ahead, Restore remained optimistic, noting that its current trading trajectory aligned with its revised expectations, as it anticipated an adjusted profit before tax of £31m for the full year.“Whilst the first half has been a difficult period, the group remains profitable and cash generative on an adjusted basis and continues to deliver excellent service for our customers,” said interim chief executive officer Jamie Hopkins”.
Seems the share peice seop over the past 12 months has been overdone. A correction back uowards woukd seem prudent especially with a new CFO in charge feom sept 1st.
Underpriced !!
Needs a merger to move on.
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