Analysts Gareth Evans and Bob Liao highlight the potential of Ubisense (a client of Canaccord), which joined AIM this year in a £6 million float. The Cambridge-based location-tracking specialist provides a variety of technology that can track the location of items, already in use by companies such as BMW and Airbus. Liao and Evans value the business at £59 million, which they base on 3.7 times 2012’s EV/sales.
A loss before tax of £400,000 on sales of £20.9 million is forecast for the year to December 2011. In 2012, maiden profits of £1.3 million are pencilled in on turnover of £26 million. Rating the shares as a buy, a target price of 269p is identified.
The financials team at Canaccord is keen on investment bank Close Brothers (also a Canaccord client.) The team of Ian Poulter, Catherine Heath and Biraj Borkhataria comment that, following a recent update, the business ‘looked solid and continued themes seen earlier in the year’ with its Winterflood market-making operation described in particular as a ‘resilient performer’.
Identifying a target price of 925p, adjusted pre-tax profits of £127.8 million on income of £556.2 million is forecast for the year to July 2011. In 2012, profits of £155.1 million on income of £610.7 million are pencilled in. Dividends of 41p and 43p are forecast for 2011 and 2012 respectively.
Cheaper fund investing has arrived at The Share Centre.
We don't believe it's fair to charge you extra just for holding funds.
So we don't. Find out more.
Capital at risk.
Since 2008, our share tips outperformed the benchmark by 281%. Take a free trial and get access to our recommendations today. Start free trial now.
This annual guide provides a comprehensive overview of cash shells on the Main Market, AIM and PLUS landscape. The guide is available to order in PDF format for £350 (+VAT). More info
The most comprehensive review of AIM directors' pay available, and this year includes a record sample of 1,044 AIM-quoted companies. The full report is available to order for £365 + VAT. Click here for more info
In-depth coverage of selected AIM companies within the small-cap and fast growing company sector including AIM and PLUS Markets shares and listed stocks. Company research and analysis from GCI analysts updated daily.
Be the first to receive our independent analysis and research, designed to help you generate more wealth for you and your family over the long term. Subscribe and save.
Sara Williams investigates what can be ascertained from the actions of a number of AIM listed company’s directors.
David Thorpe enters the mind and methodology of Mike Prentis.
Ben Jaglom contemplates how it would feel to be the recipient of a sovereign wealth fund.