Shares in SigmaRoc PLC (AIM:SRC) were up 4.5% after the construction materials group said underlying earnings for the current year will beat expectations.
Revenue for the 11 months to end-November jumped 107% over the prior year to £236.5mln.
Broker Liberum reiterated its ‘buy’ recommendation and 125p price target, adding: “The shares have underperformed the wider sector for no fundamental reason and offer very good value here.”
Peel Hunt is a ‘buyer’ up to 135p, adding the current valuation multiple made the stock look “look extremely cheap”.
In late morning trade, SigmaRoc’s shares were changing hands for 83p each, up 3.6p.
Earlier, the group said the business was carrying good momentum into the year-end, which should support further organic progress in 2022.
It added that sustained demand was maintained in all key end markets and customer segments.