Jefferies analyst Andrew Douglas reiterated a Buy rating on Bodycote today and set a price target of p915.00.
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Andrew Douglas has given his Buy rating due to a combination of factors that highlight Bodycote’s potential for recovery and growth. The company is seen as one of the top choices within the UK industrial sector, with its current market valuation considered to be significantly below its intrinsic value.
The management’s medium-term strategy has been well-received, with successful execution thus far, and there is an anticipation of earnings recovery in the medium term. Additionally, Bodycote’s strong fundamentals are expected to become even more robust, leading to an improvement in the quality of its earnings. These elements are anticipated to contribute to a positive re-rating of the stock over time, justifying the Buy recommendation.
In another report released on November 18, Deutsche Bank also reiterated a Buy rating on the stock with a p835.00 price target.