You are here: City and Corporate / Broker's note - WH Smith
Broker's note - WH Smith
Archived article dated Thursday April 23rd 2009
Investec Securities has re-iterated its 'Buy' recommendation on WH Smith following its interim results that were slightly ahead of forecasts.
The broker says WH Smith has yet again produced a solid set of results, based on its model of gross margin improvement and cost savings. It now expects small upgrades to full year consensus pre-tax profits to between £80 million and £81 million from the current £78.5 million.
Investec has placed its target price of 405p on WH Smith under review as it regards the group's PE discount to the sector of around 40% as unjustified. The shares currently trade at 411p.
Tagged as: WH Smith | Investec
Share this article:
Should your colleagues be reading the Retail Bulletin?
Let them know about us.
