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An announcement from Mitie Group plc ( (GB:MTO) ) is now available.
Mitie Group plc has acquired Forest Group Holdings, a specialist in commercial refrigeration maintenance, for up to £7 million. This acquisition enhances Mitie’s ability to self-deliver refrigeration services, integrating them into its Intelligent Engineering proposition, and expands opportunities in the Retail and Distribution sectors. Forest’s team will join Mitie’s Technical Services division, bolstering its capabilities in Mechanical & Electrical services and other areas. This strategic move is expected to strengthen Mitie’s market position and value delivery to its customers.
The most recent analyst rating on (GB:MTO) stock is a Buy with a £230.00 price target. To see the full list of analyst forecasts on Mitie Group plc stock, see the GB:MTO Stock Forecast page.
Spark’s Take on GB:MTO Stock
According to Spark, TipRanks’ AI Analyst, GB:MTO is a Outperform.
Mitie Group plc’s overall stock score is driven by strong financial performance, particularly in revenue growth and cash flow efficiency. However, technical indicators suggest a short-term bearish trend, and the valuation is fair. The absence of earnings call data and corporate events means these factors do not influence the score.
To see Spark’s full report on GB:MTO stock, click here.
More about Mitie Group plc
Founded in 1987, Mitie Group plc is a leading technology-led Facilities Management, Transformation, and Compliance company in the UK. It provides services across engineering, security, hygiene, and transformational projects, holding market leadership in these areas. Mitie partners with blue-chip customers in various sectors, including government, healthcare, and retail, and is recognized for its ESG credentials and commitment to reaching Net Zero.
Average Trading Volume: 3,473,549
Technical Sentiment Signal: Buy
Current Market Cap: £2.05B
See more data about MTO stock on TipRanks’ Stock Analysis page.