logo-loader
viewShanks

Shanks cut by Credit Suisse

financial_350_527cac93535d0.jpg

Waste management firm Shanks (LON:SKS) has been downgraded to ‘neutral’ from ‘outperform’ by heavyweight investment house Credit Suisse after the stock hit its 110p a share price target.

It says the fundamentals of the business remain intact, but the current valuation is fair. 

It points out that Shanks is trading at around 20 times prospective earnings, while the dividend yield is 3.2%.

Shanks is delivering on its structural cost-cutting targets and remains well-positioned in its core niche markets. We now see this reflected in the valuation,” it said in a note to clients.

In the year to date the shares (down 0.81p at 109.19p) have rallied 25% and are up 17.4% in the last month alone.


Quick facts: Shanks

Price: - -

AIM:SKS
Market: AIM
Market Cap: -
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Full interview: Learning Technologies surges as it raises full-year guidance

Learning Technologies Group (LON:LTG) Jonathan Satchell talks Proactive London through it's remarkable delivery of organic revenue growth on a constant currency basis in both the Software & Platform and Content & Services divisions. And what a difference a year makes...2020 sees LTG...

6 hours, 12 minutes ago

2 min read