Glenveagh Properties

Accelerating cashflow increases price target to €1.46

  • Sectors : Construction and Housebuilding
  • Companies : Glenveagh Properties

Ratings and price correct at time of issue.

  • Glenveagh Properties

    Closing Price: 115c

  • RATING 10/11/17

  • PREVIOUS RATING N/A

DAVY VIEW

The shift to a more capital-light model has dramatically increased our forecasts for shareholder returns in FY22-24 from 22.5c to 50.8c aggregate on the back of significant free cash generation. We still expect material growth in earnings well into the medium term, and we have increased our price target to €1.46 from €1.41.

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Apr 29 2022, 07:05 IST/BST

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