Andrew Douglas, an analyst from Jefferies, reiterated the Buy rating on Severfield. The associated price target remains the same with p41.00.
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Andrew Douglas has given his Buy rating due to a combination of factors, including the strategic appointment of a new CEO at Severfield. The new CEO, Paul McNemey, is expected to be a strong fit for the company given his extensive experience and previous collaboration with Severfield. His understanding of the company’s operations and customer relationships is anticipated to be a significant asset.
Additionally, Andrew Douglas highlights the potential for recovery and growth within Severfield’s core business areas. The company’s joint venture in India is seen as a promising opportunity for enhancing shareholder value over the medium term. These elements contribute to a positive outlook for Severfield, supporting the Buy recommendation.