reports
FirstGroup: 1 director
A director at FirstGroup sold 100,000 shares at 182p and the significance rating of the trade was 55/100. 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 showing ...
- MarketLine Department
FNM SpA - Strategy, SWOT and Corporate Finance Report
Summary FNM SpA - Strategy, SWOT and Corporate Finance Report, is a source of comprehensive company data and information. The report covers the company's structure, operation, SWOT analysis, product and service offerings and corporate actions, providing a 360˚ view of the company. Key Highlights FNM SpA (FNM) a subsidiary of ASTM SpA, is a transport service provider. The company, through its subsidiaries and joint ventures, provides transport and mobility services in the Lombardy region of It...
- Liberum Research Team
- Liberum Research Team
- Gerald Khoo
LIBERUM: FirstGroup* - TPE rail contract not extended
The government decision to not exercise the two-year extension option in FirstGroup’s TransPennine Express (TPE) rail contract is disappointing. The move comes despite the government acknowledging that many of the operational problems stem from factors outside of FirstGroup’s control, and that transferring TPE to the state-backed operator will not fix them. The impact on our earnings estimates is modest, with negligible implications for value. Our recommendation remains BUY with an unchanged SOT...
- Liberum Research Team
- Liberum Research Team
- Liberum Research Team
- Liberum Research Team
- Liberum Research Team
- Liberum Research Team
- Liberum Research Team
- Liberum Research Team
- Gerald Khoo
LIBERUM: FirstGroup* - Positive trading update, forecasts raised
UK Bus passenger volumes have continued to recover, helped by the government-funded £2 fare cap. The driver shortage has also moderated. The group’s open access rail operations have experienced stronger than anticipated passenger demand in H2. As a result, management sees profits for the current year ahead of previous expectations, but with an unchanged outlook for next year. We raise our March 2023E EPS forecast by 23% accordingly. Our recommendation remains BUY with an unchanged SOTP-based tar...
- Joachim Klement
- Susana Cruz
LIBERUM: SAS All Cap Monthly - Breathe a sigh of relief
The UK economic outlook has improved, and energy prices have been much responsible for that. Despite some uncertainty left on this front for winter 23/24, prices are not expected to rise as rapidly as in 2022, thus views on inflation and economic growth have become less pessimistic (ours included) over the last two months. Why? A better energy outlook benefits consumption, business sentiment (thus investment) and eases the burden of fiscal support in 2023.
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- Joachim Klement
- Susana Cruz
LIBERUM: SAS UK SMID Monthly - Breathe a sigh of relief
The UK economic outlook has improved, and energy prices have been much responsible for that. Despite some uncertainty left on this front for winter 23/24, prices are not expected to rise as rapidly as in 2022, thus views on inflation and economic growth have become less pessimistic (ours included) over the last two months. Why? A better energy outlook benefits consumption, business sentiment (thus investment) and eases the burden of fiscal support in 2023.
- Liberum Research Team
- Liberum Research Team
- Gerald Khoo
LIBERUM: FirstGroup* - Accelerating zero emissions bus investment
Successful applications for government funding have allowed FirstGroup to accelerate its investment in electric buses and associated infrastructure. FirstGroup is using its balance sheet flexibility to make the most of government financial support for the transition to zero emissions buses while it is available. Our recommendation remains BUY, with an unchanged SOTP-based target price of 165p.
- Liberum Research Team
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