Plastics Capital - Capital Network: Trading Update – Some Encouraging Signs
Plastics Capital (PLA.LON) has published a trading update for the financial year ended March 2017, ahead of full results expected at the start of July. We believe the statement confirms that company will report solid earnings growth y/o/y and strong progress in the overall business plan.
On our Mar2018e forecast, the shares now trade on 9.8x P/E (April 28th closing price). Allowing for the 2019/2020 FX tailwind, and the accelerating organic revenue growth, one could reasonably argue for a 12x multiple as FY 2018e proceeds. This would imply a share price of 150p, 23% upside from the last closing price.
Quick facts: Synnovia PLC
Market Cap: £33.93 m
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