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Moneysupermarket.com higher ahead of trading update as Liberum hikes its target price

Liberum’s analysts said: “We expect Q1’s like for like growth rate to be c.5% vs 4% for Q1'18, with a different mix of revenues and reported numbers benefiting from the inclusion of the Decision Technologies acquisition”
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The City broker hiked its target price for the FTSE 250-listed firm to 520p from 500p and reiterated a ‘buy’ on the stock

Liberum Capital raised its target for Moneysupermarket.com PLC (LON:MONY) ahead of a first-quarter trading update from the price comparison website (PCW) group due on Thursday.

The City broker hiked its target price for the FTSE 250-listed firm to 520p from 500p and reiterated a ‘buy’ on the stock, which was trading at 348p, up 0.9% on Monday’s close.

READ: Moneysupermarket.com up as full-year numbers accompanied by additional cash return

In a note to clients, Liberum’s analysts said: “We expect Q1’s like for like growth rate to be c.5% vs 4% for Q1'18, with a different mix of revenues and reported numbers benefiting from the inclusion of the Decision Technologies acquisition.”

“More fundamentally,” they added, “it is our favourite play in the PCW space (and one of our most favoured portal names) and we see the company’s new strategy as a fundamental game changer to the business, which should both accelerate revenue growth and drive an improvement in margins.” 

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