discoverIE Group PLC (LSE:DSCV) has further 'headroom' for earnings-enhancing acquisitions, according to Panmure Gordon, which updated its forecasts in the wake of last week's prelims from the specialist electronics company.
"[The company's] ability to consistently deliver was once again proven in last week’s results, with further margin progression underpinning a small beat to group underlying earnings expectations," the boutique investment bank said in a note to clients.
"Organic growth returning in the fourth quarter, a year-end order book now representing 4.5 months of sales and a strong pipeline of design wins gives good visibility into the financial year 2025."
Panmure reiterated its 990p price target and 'buy' rating stating there was £70m-£105m in the back pocket for accretive deals.
In afternoon trading the shares were flat at 715p.