Analyst Research Report Snapshot

Title:

TRAVIS PERKINS - PURPOSEFUL AND PROGRESSIVE

Price:

$10.00

Provider:

Edison Investment Research

Date:

28 Feb 2014

Pages:

2

Type:

AcrobatPDF

Companies referenced:

TPK.L

Available for Immediate Download
Summary:

The cyclical position and velocity of recovery have understandably been focal points for investors and sentiment in this pure UK play remains very sensitive in this regard. While a cautious stance on guidance has been adopted by Travis Perkins’ management, corporate conviction in a more front-foot strategy is palpably high. We see returns improving progressively over the next two to three years coupled with increasing financial flexibility. A PEG ratio of 1.3x anticipates higher growth, which we believe is a realistic medium-term expectation.

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