viewdiscoverIE Group PLC

DiscoverIE tipped for upside in the rise of electrification

Shore Capital initiates with a 'buy' recommendation and a 1,250p target price.

discoverIE Group PLC - DiscoverIE tipped for upside in the rise of electrification

DiscoverIE Group PLC (LON:DSCV) has been tipped to increase in value by some 80% in the coming years as it benefits from the rising uptake of electrification in industrial applications.

Stockbroker Shore Capital has today begun its coverage of the London-listed designer and manufacturer of customised electronic components.

“We initiate coverage with a 'buy' recommendation and believe that the shares have the potential to reach 1,250p within four years if the company achieves its FY2025 targets,” analyst Tom Fraine said in a note.

“We believe that the company is well placed to benefit from the long-term trend of increased electrification in industrial applications. This has been driven by a rise in automation, which we believe may be accelerated by COVID-19, given the sharp fall in employment in the global manufacturing sector.”

Fraine added: “The group has been growing its exposure to attractive end markets with 68% of group sales in FY2020A driven by the renewable energy, transportation, industrial & connectivity and medical markets.

“The company has consistently achieved double-digit underlying EPS growth, strong cash generation and margin expansion, which we expect to improve further, and has strong ESG credentials.”

Quick facts: discoverIE Group PLC

Price: 670 GBX

Market: LSE
Market Cap: £599.35 m

Add related topics to MyProactive

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


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...

In exchange for publishing services rendered by the Company on behalf of discoverIE Group PLC named herein, including the promotion by the Company of discoverIE Group PLC in any Content on the Site, the Company...


discoverIE Group says 'orders have been strong' and target markets have...

discoverIE Group's (LON:DSCV) Nick Jefferies speaks to Proactive London about their performance for the full-year trading which is expected at upper end of expectations. Jeffries says the recovery through the second half to date and the strong order momentum provides a solid base from which...

2 weeks, 3 days ago

2 min read