Stifel Nicolaus analyst Sam Dindol maintained a Buy rating on FRP Advisory Group Plc (FRP – Research Report) today and set a price target of p195.00.
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Sam Dindol has given his Buy rating due to a combination of factors including FRP Advisory Group Plc’s recent acquisition of One Advisory Group. This acquisition is strategic as it enhances FRP’s service offerings in financial reporting, transaction advisory, and governance services, catering to over 100 clients, many of whom are listed on the London Stock Exchange. The acquisition is expected to contribute approximately £4.9 million in revenue and £1.1 million in adjusted EBITDA annually, with a significant portion of revenue coming from retained clients, indicating stable income streams.
Furthermore, Sam Dindol views the acquisition as a sensible move that broadens FRP’s capabilities and strengthens its position in the UK administration market. The valuation of FRP, with a projected FY26E P/E of 11.2x, is considered attractive, especially given the company’s strong balance sheet that provides strategic flexibility. Overall, these factors contribute to the optimistic outlook and the Buy rating for FRP Advisory Group Plc.