In a report released today, Andrew Douglas from Jefferies reiterated a Buy rating on Severfield (SFR – Research Report), with a price target of p41.00.
Andrew Douglas has given his Buy rating due to a combination of factors that highlight Severfield’s potential for recovery and growth. Despite the recent announcement of CEO Alan Dunsmore’s departure, which might have been anticipated by some major shareholders, Douglas sees no negative implications for the company’s trading activities.
The interim leadership team, consisting of experienced executives, is expected to maintain stability while the search for a new CEO is underway. Douglas remains optimistic about Severfield’s long-term growth opportunities, indicating confidence in the company’s ability to navigate current challenges effectively.
According to TipRanks, Douglas is a 3-star analyst with an average return of 2.2% and a 50.97% success rate.