London, UK, 4 September 2019

Edison issues outlook on John Laing Group (JLG)

We expect a stronger H219 from John Laing Group (JLG) after a mixed performance in H1, when NAV growth was restrained by asset write downs. Although we have reduced our FY19 estimate for NAV per share to 353p (+9% year-on-year), we believe the long-term outlook for the business remains favourable given the global requirement for infrastructure investment. JLG's shares now stand at a small discount to peer group averages, offering an attractive entry point for potential investors.

 

Share price weakness following the H1 results now places JLG on a c 9% premium to its last reported NAV per share, slightly below peer group average of 14%. This provides a more attractive entry point for investing in the shares.

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