Andrew Douglas, an analyst from Jefferies, maintained the Buy rating on Bodycote. The associated price target remains the same with p790.00.
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Andrew Douglas has given his Buy rating due to a combination of factors that highlight Bodycote’s strategic progress and financial performance. The company’s interim results for the first half of 2025 exceeded expectations, particularly in the months of May and June, which contributed to a solid overall performance. The management’s effective execution of the Optimise programme has resulted in increased cost-saving benefits and successful disposals, which have reduced the costs associated with achieving these savings.
Moreover, the announcement of a £30 million share buyback demonstrates confidence in the company’s financial health and future prospects. Despite challenging trading conditions, Bodycote’s management has maintained its full-year guidance, which is considered robust and sensible. The strategic initiatives and the medium-term opportunities present a compelling case for investment, reinforcing the Buy rating.