Jul 23 2026
Recent Research
easyJet, Q3 impacted by Middle East conflict
Jul 23 2026
Howden Joinery, Solid H1 with more to come
Jul 23 2026
hVIVO, H1 2026 trading update
Jul 23 2026
hVIVO
H1 2026 trading update
hVIVO has issued a trading update for H1 2026. Earnings are in line with expectations. There has been an increase in commercial momentum with a significant expansion in the orderbook....
Diploma plc
Increasing forecasts and new price target of £84/share
We our upgrading our Diploma forecasts following the new guidance provided in the positive Q3 trading statement on July 16th. We continue to see upside risk to our forecasts looking...
Ryanair Holdings
Perfectly positioned for a tough environment
Ryanair’s effectively debt-free balance sheet and unencumbered aircraft fleet, order book and overall market position will see a widening cost advantage over its competitor set. It...
Food and beverage manufacturers
Preview of Greencore and Cranswick trading updates
Greencore and Cranswick will release their Q3-26 and Q1-27 trading updates on July 22nd and 27th respectively. We believe both companies remain particularly well positioned, with the...
Irish banks
H1 2026: cutting through the noise
A number of assertions, even if contradictory, can be true all at once. The threat of competition for Irish banks has increased but is not evident in operating performance. Interest...
Associated British Foods
Model update – further reductions
We are lowering our FY27 adjusted operating profit forecasts by c.7%, primarily reflecting further weakness in Sugar; in aggregate, our group FY27 profit forecasts have been reduced...
Irish economy
Ireland’s economic growth continues to outperform
In line with our expectations, the Irish economy continues to grow above consensus. We have revised down our forecast for housing supply to 44k next year and progress appears...
Robertet
H1-26 preview
Following a particularly strong FY25, we expect organic sales growth to moderate to 3.9% in H1-26 (H1-25: +9.2%) with trends differentiated across divisions. We forecast a rebound in...
XPS Group
Modest forecast upgrades; reiterate ‘Outperform’ with revised price target
Following strong FY results and the strategic acquisition of Austin Professional Resourcing LLP (APR), we update our forecasts and reiterate our ‘Outperform’ rating. Higher revenue...
Smurfit Westrock
Q2 preview and North America pricing dynamics
While freight and energy costs will drag on near-term performance, we believe Smurfit Westrock is well placed coming into H2. Paper pricing will start to meaningfully flow through, and the...
