reports
- Liberum Research Team
- Liberum Research Team
- Liberum Research Team
MAB MITCHELLS & BUTLERS PLC
MARS MARSTON'S PLC
BOO BOOHOO GROUP PLC
ITM ITM POWER PLC
BLND BRITISH LAND COMPANY PLC
YOU YOUGOV PLC
KLR KELLER GROUP PLC
CHAR CHARIOT OIL & GAS
WKP WORKSPACE GROUP PLC
CARD CARD FACTORY
CWR CERES POWER HOLDINGS PLC
CPH2 CLEAN POWER HYDROGEN PLC
JE00BLR94N79 INVINITY ENERGY
GB00B11SZ269 VELOCYS
- Adam Tomlinson
- Wayne Brown
LIBERUM: Card Factory - Much more to come
The strategy to deliver £190m of additional revenue (FY23-27E CAGR +8.8%) and +3.5ppt of PBT margin by FY27E is based on clear self-help to expand in celebration essentials, leverage stores and integrate digital throughout the offer. International partnerships are expected to drive c.45% of the additional sales, scaling rapidly towards FY27E. The growth plan is self-funded from internally generated cash and is 100% down to management’s execution, with no reliance on further market recovery. The ...
- Liberum Research Team
- Liberum Research Team
- Adam Tomlinson
- Wayne Brown
LIBERUM: Card Factory - A lot to like; remains a top pick
The in-line prelims reflect the strong recovery in profitability (noting three upgrades since November) and FCF generation. Combined with good progress across all pillars of the strategy, including significant new retail partnerships, this has given management confidence to aim for revenue of £650m by FY27E (a very robust c.9% CAGR) on a PBT margin of c.14%, representing a return to pre-pandemic margins. It provides confidence that there is much more to come as Card Factory continues to transiti...
- Liberum Research Team
- Liberum Research Team
- Liberum Research Team
- Adam Tomlinson
- Wayne Brown
LIBERUM: Card Factory - Acquisition brings more good news
CARD has acquired SA Greetings, a wholesaler of cards and gift packaging in South Africa for £2.5m in cash. This is an encouraging signal of intent, marking the first new retail partnership under the new management team and entry into a new international market of scale. The news follows the trading update earlier this week, which raised FY23E profit guidance for the third time since November, and means we have now raised our FY23E adj. PBT by c.80% in total. The shares are cheap: CY23 PER 10.9x...
- Liberum Research Team
- Liberum Research Team
- Adam Tomlinson
- Wayne Brown
LIBERUM: Card Factory - Yet more upgrades; remains a top pick
CARD has announced that FY23E results will be ahead of expectations with sales £463m, EBITDA at least £112m and PBT at least £52m. This is the third material profit upgrade since mid-November (c.9% on our forecasts) and means we have now upgraded by c.80% in total. It provides growing confidence that there is much more to come with the business now on a firm footing, with a strengthened management team, and momentum continuing to build as it transitions from a store-based card retailer into a le...
- Liberum Research Team
LIBERUM: Analyst Best Ideas - Most & Least Preferred Ideas from Liberu...
Liberum's research coverage encompasses more than 300 stocks across 12 pillars. Each quarter we ask our sector teams to list their most and least preferred stocks on a six to 12-month time horizon. Stock selection is largely limited to those names listed in the FTSE 350 and STOXX 600, eliminating less liquid names, and is driven by analysts’ preferences, rather than total shareholder return.
J2B EXPERIAN PLC
AHT ASHTEAD GROUP PLC
KLR KELLER GROUP PLC
MGAM MORGAN ADVANCED MATERIALS
7CT CENTAMIN PLC
HVO HVIVO
ABDP AB DYNAMICS
CARD CARD FACTORY
DOM DOMINO'S PIZZA GROUP PLC
OCI OAKLEY CAPITAL INVESTMENTS
RMG ROYAL MAIL PLC
CTEC CONVATEC GROUP PLC
IAG IAG
SSPG SSP GROUP PLC
TRN TRAINLINE PLC
TRR TRIDENT ROYALTIES
Card Factory: 1 director
A director at Card Factory bought 32,221 shares at 61p and the significance rating of the trade was 68/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly showin...
CARD FACTORY sees an upgrade to Slightly Positive due to a better fund...
The general evaluation of CARD FACTORY (GB), a company active in the Gas Distribution industry, has been upgraded by the independent financial analyst theScreener with the addition of a star. Its fundamental valuation now shows 4 out of 4 possible stars while its market behaviour can be considered as moderately risky. theScreener believes that the additional star(s) merits the upgrade of its general evaluation to Slightly Positive. As of the analysis date December 17, 2021, the closing price was...
- Unbending
Card Factory is a deep value retailer, offering a core product at 99p that retails for twice that at high street competitors. Despite the wide price gap, management is adamant that it does not need to raise prices to maintain profitability, with a range of actions in progress to optimise both top line and cost structure. The share price has fallen steeply, but this could present an opportunity as there are a number of potential catalysts.
Ford Equity International Rating and Forecast Report
Ford Equity International Research Reports cover 60 countries with over 30,000 stocks traded on international exchanges. A proprietary quantitative system compares each company to its peers on proven measures of business value, growth characteristics, and investor behavior. Ford's three recommendation ratings buy, hold and sell, represent each stock’s return potential relative to its own country market.. The rating reports which are generated each week, include the fundamental details behind...
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