In a report released today, Andrew Douglas from Jefferies maintained a Buy rating on Rotork plc, with a price target of p440.00.
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Andrew Douglas’s rating is based on Rotork plc’s strong trading performance and strategic initiatives. The company has reported a healthy order intake with a 6% increase on an organic constant currency basis, which is likely to be positively received by the market. This growth is consistent across all divisions, with notable strength in the CPI segment, particularly in the HVAC and data centers markets.
Additionally, Rotork has announced a £50 million share buyback, aligning with its capital allocation strategy, which is expected to be well-received by investors. The management’s expectations for the fiscal year remain unchanged, indicating stability and confidence in future performance. These factors contribute to the positive outlook and support the Buy rating given by Andrew Douglas.
Based on the recent corporate insider activity of 13 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of ROR in relation to earlier this year.