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Wednesday 8th February 2012

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The city view - Stanley Gibbons

Stamp and collectibles seller Stanley Gibbons was the recipient of a re-iterated 'Buy' recommendation this week from Seymour Pierce who does not believe the growth prospects of the company are being reflected in its valuation, with its shares trading at a low for the year of 138.5p.

The broker believes there is an opportunity for Stanley Gibb ons to grow its sub 1% global market share in its core business and other collectibles by increasingly using the internet to sell, tapping into the re-ignited interest in stamps by the baby-boomer generation, and enjoying the growing demand within Asia. With Seymour Pierce predicting pre-tax profits of £8.6 million for 2010 this puts the shares on a PE of 4.7x, which the broker believes is too low.

Tagged as: city broker view | stanley gibbons

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