Solid 3Q Update for Narrow-Moat Compass Group
Narrow-moat Compass Group delivered a decent third-quarter update, with organic revenue growth of 5% over the quarter and 3.7% for the first nine months of the year. While this slightly lags our 5% forecast for fiscal 2017, the positive foreign exchange impact from a weakened British pound is such that we do not expect to make any material changes to our estimates or to our GBX 1570 fair value estimate on the back of these results. We believe the shares are currently fairly valued.Following the...
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