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The Markets
by Proactive
Proactive UK has moved.
Coverage of London’s small caps continues on proactiveinvestors.com
Go to Proactive UK
The Markets
by Proactive
Proactive UK has moved.
Small-cap coverage continues on .com
Go to Proactive UK
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The Markets
by Proactive
Proactive UK has moved.
Small-cap coverage continues on .com
Go to Proactive UK

Media

Informa gains as Citi sees potential for forecasts to rise

Informa benefited from positive comments from Citi which believes consensus forecasts are too low.

The broker has increased its price target and raised forecasts for the events firm "to reflect the positive impact of M&A, as well as strong underlying trading, as represented in the recent upgrade to FY guidance."

Citi said while this increase reflected catch up (Citi's EPS forecast at 40.3p is still higher than the consensus of 39.6p) - "we think the near-term risk/reward tilts favourably, and we open a 30-day positive catalyst watch."

The US bank said the key point is that "we think consensus forecasts of 1H revenues/profits are materially too low given the timing of the event schedule, which should help growth/drop through in June."

It reckons the results will catalyse a broader discussion about the scope for further earnings upgrades as the year progresses.

It reiterated a buy rating and increased its price target to 850p from 720p.

Shares rose 0.6% to 732.40p.

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