Foseco Share Discussion Threads

[1964steve] 13/9/2007 09:11

Panmure Gordon have reiterated their buy advice today with a price target of 265. Evo have done the same with a target of 250.

[rivaldo] 13/9/2007 06:21

Excellent results and a bullish outlook - great stuff. As always there are minor negatives, particlarly sterling and the US, but you can't ask for more from the company than headline EPS up 20% at current exchange rates:

"* Headline* EPS 8.3p (2006:7.7p) up 8%

* At current exchange rates:
* Turnover increased by 7%
* Headline* operating profit increased by 12%
* Headline* EPS up 20%

* Interim dividend of 1.73p (2006:1.54p) up 12.5%"

"Commenting on the results, Danny Rosenkranz, Chairman, said:

'I am delighted to report another excellent set of results. Turnover has grown
strongly, before adjusting for currency and we are particularly pleased with the continuing improvement in operating profit.'

'The second half of the year has begun well. We are seeing strong growth in
trading, driven by Europe. We expect further growth, assuming stability in world economies and no significant strengthening of sterling.'"

[philo124] 12/9/2007 11:30

results tomorrow!
Philo

[pricemilne5] 12/9/2007 09:44

i get the feeling that a break above 220 today could lead to some really good highs!

[rivaldo] 12/9/2007 08:22

There's the new all-time high (intra-day anyway per the above charts) - let's see if it holds and more to the close.

[rivaldo] 11/9/2007 20:51

Performing extremely well given the current markets and approaching the results - new highs pre-interims would be a rather nice indicator.

[grigor] 01/9/2007 20:00

Interims on 13th

[contrarian2investor] 15/8/2007 09:43

I always like it when highly paid analysts and institutions purchase a quality stock such as fose and reaffirm what us mere mortals (long-term share holders) are ready know.

[rivaldo] 14/8/2007 10:16

Legal and General have bought another 823k shares - they're up to 6.7m shares now (4.02%):

[rivaldo] 13/8/2007 11:52

FOSE has held up terrifically in the current market. Hopefully it'll soon challenge the recent highs - on a forward P/E of less than 11 on the most recent broker forecast the two recent broker price targets of 250p would be a reasonable level to go for.

With most forecasts going for 18p-19p EPS in 2008, at 250p FOSE will soon be on a current year P/E of only around 13 or so - probably about right and maybe pretty undervalued if FOSE continues to perform well. 20% upside tax-free in the ISA will do me over the next few months.

Then the market will start to look forward to say 23p EPS the following year, at which point the price could target 300p-350p.

[pinemartin9] 08/8/2007 15:25

Chartists may be looking to see if we have just seen a large double top forming. I don't know much about charting but some people look at these things. You never know there is a chance this could test 200 again if people sit on the sidelines and wait.

[1964steve] 08/8/2007 14:37

Having held up well during the recent market downturn I was surprised to see FOSE slipping in what seems to be a reasonably strong day and a decent opening on the DOW. Any ideas what's occurring out there or can we just put it down to noise in the market?

[rivaldo] 02/8/2007 09:26

That's a new high chart-wise - let's see if it at least holds to the close or the price motors on from here.

[grigor] 01/8/2007 22:15

You're probably right Rivaldo - Getting carried away!

If EPS beats expectations and the multiple increases, doubling is possible.

[rivaldo] 01/8/2007 21:37

Grigor, I suppose you could be right about doubling, though it would take a bit of a re-rating.

The top forecast for next year is 19.3p EPS, up from 16.26p EPS this year. Let's go for say 23p EPS the year after.

By this time next year, if FOSE has continued to thrive I can certainly see it as being on a higher forward P/E than the current miserly 11.1. On a forward P/E of say 14, FOSE would trade at 322p. i.e exactly 50% up from here in a year. Pretty good tax-free in the old ISAs.

To double, FOSE would be trading on a forward P/E of around 18 - not impossible, but pretty demanding and unlikely I'd have thought. Unless you believe FOSE will accelerate its growth and surpass my EPS estimates above.

[grigor] 31/7/2007 19:47

TA is useless for small cap shares (as is Zak Mir!) but FOSE is still cheap and could double in a year on fundamentals.

[rivaldo] 31/7/2007 19:41

Thx Tole. All publicity is good publicity - I think that article is a positive recommendation but am not entirely sure!

Hopefully new highs a-coming....

[rivaldo] 26/7/2007 07:59

Janeann, he's a bit of a chart trend follower. I can understand his thinking as FOSE seems to be establishing a new trading range, brokers are increasing their price targets, FOSE are issuing postive updates etc - in summary things have taken another upturn recently.

Agreed about his followers, but for a £364m m/cap like FOSE that's hardly a problem, unlike certain other stocks.

[janeann] 25/7/2007 22:49

so why did he wait till 216......... he could ahve had them at 200 last week........trouble is when he exits a herd exit too

d

[rivaldo] 25/7/2007 21:47

Nice comment here today:



"I bought more Foseco (FOSE) --- 2,500 shares at 216.5p this morning. This is one of my lovely "Boring" companies bought originally at 190p.

A broker has initiated coverage and started with a target of 250p which seems reasonable. More than happy to take advantage of market weakness to get some more today and indeed I agree with the target - 250 with a stop at 190."

[philo124] 24/7/2007 14:56

Back From Spain to no water in Gloucs either!
ABN initial coverage note sets 250p Traget
Regards
Philo

[pricemilne5] 24/7/2007 09:30

Nice new high formed this morning, looking forward to a decent close.

[rivaldo] 24/7/2007 07:12

Whoosh! Interesting start...and a new high.