Liberum has initiated its coverage of CVS Group (AIM:CVSG) PLC with a ‘buy’ recommendation and 2,380p.
In doing so, it described the group as more of a trusty Labrador than a mythical unicorn (the latter being a $1bn valued tech start-up).
“CVS set some ambitious targets at its recent CMD [capital markets day],” the broker said in a note to clients.
Liberum, therefore, has asked seven questions (as one does), the answers to which it believes are key to delivering these targets.
“We’ve used price surveys, detailed modelling and analysis of UK and overseas peers to challenge CVS’ targets and conclude that they are, on the whole, achievable.
“What this means is that CVS’ ambition to double EBITDA by 2027 is more of a trusty Labrador than a mythical unicorn.”