David Farrell, an analyst from Jefferies, maintained the Hold rating on Renishaw. The associated price target remains the same with p3,450.00.
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David Farrell has given his Hold rating due to a combination of factors, balancing strong recent performance with a more measured outlook. Renishaw’s third-quarter sales grew solidly, and guidance implies that this momentum could persist into the fourth quarter, but the range of possible revenue outcomes remains wide, signalling some uncertainty about the exact growth trajectory.
He also highlights that the Position Measurement unit, which carries the highest margins, is growing the fastest, supporting profitability, yet this strength is already well understood by the market. With demand robust across key end markets and the order book expanding, Farrell sees the business as fundamentally healthy, but not sufficiently mispriced to justify a more aggressive stance. As a result, he reiterates a Hold recommendation and leaves his price target unchanged at £34.50.
According to TipRanks, Farrell is a 4-star analyst with an average return of 8.9% and a 64.97% success rate. Farrell covers the Industrials sector, focusing on stocks such as Hill & Smith Holdings, Volution, and XP Power.
In another report released on April 27, Deutsche Bank also maintained a Hold rating on the stock with a p4,960.00 price target.