Analyst Research Report Snapshot

Title:

Peel Hunt: John Menzies (Hold) - Post prelim meeting thoughts

Price:

$35.00

Provider:

Peel Hunt

Date:

05 Mar 2014

Pages:

4

Type:

AcrobatPDF

Companies referenced:

MNZS.L

Available for Immediate Download
Summary:

John Menzies (Hold) Post prelim meeting thoughts Following yesterday’s 2013 prelim results presentation, we are revising our target price to 660p (11x 2014E EPS, 6.6x EBITDA), given the bulk of the downgrade to 2014E estimates related to adverse fx, the prudent assumptions behind the reduction in forecast Distribution profits, and the strengthening outlook for the global aviation industry. Christopher.Bamberry@peelhunt.com

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