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Davy Research

XP Power

Trading holding up well

Oct 27 2023, 08:15 IST/BST
Thomas Rands CFA
Company Report
7 page(s)

Sectors : Capital Goods

Companies : XP Power

Ratings and price correct at time of issue.

XP Power

Closing Price: 1006p
RATING 24/10/23
OUTPERFORM
PREVIOUS RATING N/A

Person's Name

Thomas Rands CFA

Analyst

DAVY VIEW

XP Power (XPP) has released an assuring ad-hoc trading update highlighting positive trading dynamics in September and so far in October and that covenant waiver discussions are ongoing. There is no update on a potential capital raise. The shares look too cheap given that fundamentals are intact and banks are supportive. We reiterate our ‘Outperform’ rating and 1,940p price target.

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Oct 27 2023, 08:15 IST/BST