Future PLC (LSE:FUTR) is set to rise even more according to Berenberg, which adds it is not too late for new investors to join in.
The shares have risen 110% this year so far and by over 3,000% over the past five years, but there is more to come and specifically from this week's Dennis Publishing acquisition, suggests the broker.
Multiple synergies arise from the Dennis acquisition believes the broker, in particular, the scale in wealth vertical added by Dennis’s MoneyWeek and Kiplinger brands especially in the US.
Dennis also adds significant subscription revenues (c75% of its sales) and a proprietary subscription conversion engine Future can roll out across its existing brands.
Berenberg’s price target has risen to 4,890p from 4,180p though its best-case estimate is for a share price of 6,250p and 70% earnings upside on its current forecast by 2023 though this relies on some more M&A deals along the way.
A 'top pick' and a 'buy' concludes Berenberg.
Shares rose 4.9% to 3,880p.