This report is not a personal recommendation and does not take into account your personal circumstances or appetite for risk.
Trade Parameters
Technical Observations – For
Technical Observations – Against
Attractive share price reversal and breakout with shares holding above 2550p. Broker consensus bullish (65% buyers), 89% of analyst targets suggesting upside from current levels. Shares jumped 3% in response to 26 Feb trading statement. Potential for the same next Tuesday, when Q1 results are released.
Morgan Stanley (23 Mar) says underperformance of ABF in recent months has created a buying opportunity, with the outlook improving and discount brand Primark at an inflection point with less FX headwinds; keeps £30 target, upgraded to Overweight. Shore Capital (12 Mar) confident in medium to long term outlook for Primark, Buy.
Next Event: Q1 Results, 2 May
Latest Broker 12-Month Consensus: 65% Buy, 26% Hold, 9% Sell (full breakdown on request)
Source: DowJones Newswires, Reuters News, Bloomberg or Company Press releases
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