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Apr 1 2021, 06:40 IST/BST
Electrocomponents (ECM) has demonstrated significant operational improvements over recent years and proved resilient through the most severe parts of lockdown. That said, the stock now trades at an all-time high, finally breaching its September 2000 ‘Tech-boom’ high in November 2020. Economic recovery, two new distribution centres (DCs) and a potential boom in the ‘smart’ sectors will drive strong growth, but the shares may be due a breather following their explosion over recent months. We initiate coverage with an ‘Underperform’ rating.