Jefferies analyst Andrew Wade maintained a Buy rating on Moonpig Group Plc today and set a price target of p315.00.
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Andrew Wade has given his Buy rating due to a combination of factors, primarily driven by Moonpig Group Plc’s strong performance in the first half of the fiscal year. The company reported a revenue growth of 6.7%, slightly surpassing expectations, which indicates a solid trajectory for the brand. The Moonpig brand itself showed a robust growth rate of 9.4%, although slightly slower than previous months, it still reflects a healthy trend.
Additionally, the Greetz segment has returned to growth, and the Experiences segment has shown signs of improvement in the second half. The company’s EBITDA and PBT growth rates are also exceeding expectations, suggesting a positive outlook for future financial performance. With early trading in the second half aligning with expectations, Andrew Wade sees potential for further upside and views Moonpig as a unique blend of growth, quality, and income, justifying the Buy rating.