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Investing.com - Barclays has initiated coverage on Rosebank Industries PLC (ROSE:LN) with an Overweight rating and a price target of GBP4.30.
The price target represents a 43% upside to the placing price and a 31% upside to the current share price, according to Barclays.
The investment bank’s valuation theoretically represents a 2.4x return on the equity invested at entry by fiscal year 2028.
Barclays noted that Rosebank has indicated it would consider breaking up assets and selling parts separately if improvement opportunities arise at different times across the business.
The firm believes that when Rosebank decides to dispose of its ECI division, it will be in a better position in terms of profitability and free cash flow generation, potentially making ECI more attractive to large US electrical and multi-industry players than previously.
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