Analyst Research Report Snapshot


Peel Hunt: Tarsus (Buy) - Placing and purchases




Peel Hunt


10 Feb 2014





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Tarsus Group (Buy) Placing and purchases Tarsus are raising £10m gross (5m shares @ £2) to fund £7.5m initial spend on two acquisitions - £6.1m is to be spent on 100% of a US medical event and £1.4m on 60% of a Turkish construction equipment show. Notwithstanding the Turkish show being biennial (odd years), the deal should add c5% (PHe) to EPS in 2014. These deals fit with stated strategy and the equity funding structure looks prudent. We maintain our Buy recommendation and 270p TP.

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