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Investing.com - JPMorgan has reiterated an Overweight rating and GBP6.70 price target on Travis Perkins (LON:TPK) ahead of the company’s third-quarter results on October 16, 2025.
The investment bank has placed Travis Perkins on positive catalyst watch, expecting Q3 results to demonstrate the company’s success in reversing market share losses experienced in recent years. JPMorgan anticipates positive like-for-like revenue growth of 1.6% for the quarter, driven by volume increases rather than price changes.
By division, JPMorgan forecasts 1.5% like-for-like revenue growth for the Merchanting business and 2.2% for Toolstation. The bank notes that Travis Perkins should benefit from easier comparative figures, as the company faced significant implementation challenges with Oracle Financials in the same period last year.
During its first-half presentation, Travis Perkins reported slightly positive July trends and expressed momentum and optimism heading into the second half of the year. The company maintained its full-year guidance for adjusted operating profit broadly in line with current market expectations of £141 million.
JPMorgan also highlighted growing investor interest in Travis Perkins following the appointment of new CEO Gavin Slark, with his strategic direction viewed as a key upcoming milestone for the company.
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