UK Stock Market News Today – 17-Oct-2019
Alpha FX (AFX) – 850p – £315m – PER 33
Trading Update For The 12 Months To End September 2019 – Expects FY earnings to be ahead of current market expectations.
Still looks overvalued to me, but keen on seeing new broker notes here as this company continues to impress.
IG Design (IGR) – 616p – £484m – PER 19
Trading Update For The 6 Months To End September 2019 – Strong performance, on track to meet FY expectations.
I still see 600p or so as fair value here.
Norcros (NXR) – 223p – £179m – PER 6.5
Trading Update – H1 in-line, progressing into H2 in-line.
Seems a little cautious here, and with the Net Debt (even though it’s down quite a lot here today), Pension liability (circa £30m or so last I checked), South Africa exposure (30% of Revenue I believe), I am happy to sit on the side-lines for now.
As always, all comment most welcome!