Edison Investment Research - La Doria (LD) Update: Continuing to beat expectations

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Edison Investment Research

Update: Continuing to beat expectations

La Doria has reported yet another strong set of results despite the tough economic and trading environment in its markets, and the updated three-year plan represents a further upgrade to forecasts. Despite the very strong run in the share price, we still calculate c 17% upside on our DCF analysis. As a result of the FY results, we have upgraded our earnings forecasts for 2015 by c 27% as we have incorporated the recent acquisition of Pa.fi.al. In underlying terms, we have upgraded our forecasts by c 7%.

09/03/2015 6 EN

Underlying

La Doria

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Italy

Provider

Edison Investment Research

Edison is an investment research and advisory company, with offices in North America, Europe, the Middle East and AsiaPac. The heart of Edison is our world renowned equity research platform and deep multi-sector expertise. At Edison Investment Research, our research is widely read by international investors, advisors and stakeholders. Edison Advisors leverages our core research platform to provide differentiated services including investor relations and strategic consulting.

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Update: Continuing to beat expectations

La Doria - Investing for the future

Outlook: Weathering the storm

Update: Another strong year

Manx Financial Group - Termination of coverage

musicMagpie - Termination of coverage

Topps Tiles - Accelerating growth through Q125

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