from 1:10:25 |
Peel Hunt raises M&C; Saatchi to 'buy' (from add) price target 210 pence |
Yes that sounds fair to me, 265 is 12x forward earnings or cash adjusted 11x as i expect they will have 20m net cash unless they acquire. They are also self funding organic initiatives so plenty of risk to the upside especially if the macro improves |
Panmure Gordon has just issued a buy note today with a TP of 265p.
"Valuation underpinned by improving cash generation
We remain strong buyers of M&C Saatchi, with our 12-month target price unchanged at 265p/share" |
Market derated SAA too far, managed to buy in on the bell at 183, strong recovery play IMO. |
super update. market still seems to be thinking that SAA is a pure advertising business |
'Ideas of the Week - This glamorous small cap is sparkling again
Under a new management team, however, M&C Saatchi is starting to look increasingly attractive. Past scandals and constraints on shareholder returns are retreating over the horizon, while demand is improving, margins are widening and cash flow is preparing to rebound.' |
Artisan Partners buying at the current price too |
Octopus Investments has been buying again |
Highlighted in today's Times, with a 'Buy' rec. Peel Hunt upgrades it from Hold to Add. |
'Profits jump at M&C Saatchi
M&C Saatchi’s (SAA) interim results contain a winning combination: strong organic growth and a smaller cost base.' |
Nice solid results today and good to see the cost-saving measures really coming through in increased profitability.
Interested in hearing what management have to say at their presentations today about the growth strategy going forward.
Think this has a lot more to go in time. |
A good set of results.
‘Significant improvement in profitability driven by the global cost efficiency program, local cost actions, loss making business exits (particularly in Advertising), and improved mix:
o LFL operating profit grew 40%, primarily due to Advertising
o Operating margins of 14.2% (+3.4ppts), driven by higher-margin Non-advertising Specialisms at 23.4% margin (+2.2ppts), and Advertising at 11.4% margin (+7.2ppts)
o LFL profit before tax increased 26%’
‘Our strong first half performance and solid Q3 trading to-date underpin our confidence in delivering in line with FY 2024 market expectations’
‘We will continue to deliver on our cost saving programme whilst also making strategic investments in the second half of the year to underpin our ambition of long-term sustainable growth and delivering strong returns for shareholders.’ |
Some positive coverage in a well known tipsheet this weekend. |
Liking the continual rise ahead of next update....DYOR
v quiet board |
Yes, a strong uptrend here. A clear break above 200p would be very bullish.
A favourable backdrop market-wise as well with smallcaps finally seeing some traction and anticipating a drop in interest rates over the coming months.
Artisan clearly very keen increasing its holding yet again. |
Artisan keep nibbling, nice to see us tickling £2.
Hopefully with the economy in recovery mode we can see some decent earnings growth here in 2024 |
Director buying at 183.75 |
Iceberg! Dead ahead! |
The largest volume in quite some time. |
Surely Saatchi isn't going to stay independent for the long term. A potential bidder only has to have a word with Murria and they are half way there... |
Chunky volume today. 2 x 1.1m trades @ 180p. |
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