Moody’s upgrades Agnico Eagle’s rating to A3 on debt reduction
Investing.com - Berenberg has initiated coverage on Strix Group PLC (LON:KETL) with a Buy rating and a price target of GBP0.90.
The investment firm views the current share price as overly pessimistic, suggesting it implies a rate of terminal decline that doesn’t align with the company’s actual performance and outlook.
Berenberg notes that 30% of Strix’s FY24 revenue comes from its Billi division, which is growing at 10% annually with above-group margins, driven by new products and expansion into new markets.
The kettle controls division, representing 48% of FY24 revenue, shows a more subdued outlook but maintains market share and benefits from over 90% cash conversion, according to the research note.
Berenberg highlights Strix’s valuation metrics, noting the company trades at an FY25 P/E of 5.9x, EV/EBIT of 6x, and offers a free cash flow yield of 14.3%.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.