Andrew Douglas, an analyst from Jefferies, maintained the Buy rating on Spectris (SXS – Research Report). The associated price target remains the same with p3,135.00.
Andrew Douglas has given his Buy rating due to a combination of factors that indicate a positive outlook for Spectris. The company’s preliminary results for FY24 have exceeded market expectations, suggesting a stronger performance than initially anticipated by analysts. This is highlighted by a notable increase in order intake during the fourth quarter, signaling a potential recovery in market demand.
Despite a challenging year, Spectris has shown resilience with its sales and EBITA figures slightly surpassing forecasts. The management’s confidence in maintaining performance in line with expectations, supported by strategic mergers and acquisitions and a Profit Improvement Plan, further strengthens the case for a Buy rating. While there are concerns about the higher net debt levels, the focus remains on year-over-year EBITA improvement, which underpins the positive recommendation.
According to TipRanks, Douglas is ranked #2096 out of 9390 analysts.