Brokers note - Dunelm
Singer Capital Markets has initiated coverage of Dunelm with a 'Buy' recommendation and a target price of 360p.
The broker says the company is a unique domestic growth stock with a management that has an excellent track record and a strong balance sheet that enables its expansion to be self-funded.
Singer Capital Markets also calculates that Dunelm’s three-year CAGR could double from 11% to 22% and that this is not factored into its valuation. The broker’s price target of 360p compares with an underlying share price of 306p.
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