Senior plc, the Industrials sector company, was revisited by a Wall Street analyst today. Analyst Andrew Douglas from Jefferies maintained a Buy rating on the stock and has a p230.00 price target.
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Andrew Douglas’s rating is based on the recent announcement of a significant contract between Senior plc and Airbus, which is expected to positively influence investor sentiment. This contract, although not quantified in terms of financials, is strategically important and aligns with Senior’s focus on their ‘standard parts’ strategy, which has been a management priority for several years.
The contract involves the design, qualification, and manufacture of aerospace standard parts for fluid conveyance applications, with potential growth opportunities in the spares and repairs markets. This development is anticipated to bolster the Aerospace division’s growth, with full ramp-up expected by FY27, and suggests potential for further contract wins in the future.
In another report released on November 21, Berenberg Bank also maintained a Buy rating on the stock with a p275.00 price target.