In a report released today, Andrew Douglas from Jefferies maintained a Buy rating on Vesuvius, with a price target of p490.00.
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Andrew Douglas has given his Buy rating due to a combination of factors including the medium-term recovery potential of Vesuvius’s stock despite recent challenges. Although the latest trading update was disappointing, and forecasts for FY25F to FY27F have been adjusted downward, there is an expectation that the company will overcome these hurdles.
Douglas believes that the stock represents good value, even with the current downgrades, as long as price increases in the second half of FY25F can counteract cost inflation. The potential for recovery and value in the shares supports the Buy rating, with a new price target set at 490p.
In another report released on July 25, Berenberg Bank also maintained a Buy rating on the stock with a p430.00 price target.