Brokers note - Dunelm
The broker says it finds the company’s roll out potential and its cash-rich, cash-generative nature appealing. Altium believes there are sound reasons why the group will enjoy operating leverage as it expands but the broker has chosen not to incorporate this into its valuation of the business.
Even without this likely benefit and the recent share price outperformance Altium still regards Dunelm as offering substantial upside. Its price target of 500p compares with an underlying share price of 407p.
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