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Investing.com - Berenberg has initiated coverage on Trifast Plc. (LON:TRI) with a Buy rating and a price target of GBP1.30, according to a research note released Wednesday.
The research firm highlighted Trifast’s focus on design, engineering, manufacturing and distribution of high-quality industrial fastenings and Category C components like nuts and bolts.
Berenberg noted that while Trifast’s end-markets are not yet showing certain signs of recovery, management is making significant improvements to the business that could accelerate performance when volumes return.
The firm pointed out that in management’s first full year of results, the EBIT margin rose by 160 basis points to 6.7%, with Berenberg forecasting EBIT margins to rise to 11.2% by 2029.
According to Berenberg’s analysis, Trifast currently trades on a fiscal year 2025 P/E of 11.3x, EV/EBIT of 8.9x, and offers a free cash flow yield of 16%.
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