Analyst Andrew Douglas of Jefferies reiterated a Buy rating on Spirax Sarco Engineering, retaining the price target of p8,040.00.
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Andrew Douglas has given his Buy rating due to a combination of factors that highlight Spirax Sarco Engineering’s robust performance and promising outlook. The company has reported a strong trading update for the ten months ending October, showing continued positive trends from the first half of the year. Notably, there has been an increase in OCC sales growth, which aligns with management’s previous guidance and indicates a healthy trajectory for the company.
Furthermore, Spirax Sarco Engineering is successfully addressing past challenges, with improvements in order intake and growth in key sectors such as ETS, including semiconductors. The company’s cost-saving initiatives remain on track, and management has reiterated its financial guidance for the fiscal year 2025. With expectations of a strong EPS recovery over the next few years, Andrew Douglas remains optimistic about the stock’s potential for further appreciation.
According to TipRanks, Douglas is a 4-star analyst with an average return of 5.2% and a 57.58% success rate. Douglas covers the Industrials sector, focusing on stocks such as Avon Technologies, IMI plc, and Senior plc.