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May 12 2023, 07:00 IST/BST
Kingspan Group
Earnings upgrade further evidence of operational delivery
- Sectors : Building products
- Companies : Kingspan Group
DAVY VIEW
We are upgrading our Kingspan trading profit and earnings forecasts for this year by 7%. Based on the new estimates, Kingspan is now on a 2023 P/E multiple of just over 18x. The group is convincingly working its way through a more difficult operating environment. We also update our price target, which moves from 8150c to 8300c. This captures the confidence we continue to have in the Kingspan equity story.
