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
Results (6 Mar) out of the way. Move into lower margin delivery services designed to protect market share from rising competition within a still strong growing business. Broker JPMorgan (7 Mar) suggests buying the dip after weaker than expected earnings and higher spending. Huge demand for convenience and home food delivery of all food types. Promoted to UK 100 and end of 2017 and £5.bn market capitalisation equates to 0.25% of index.
Consensus has 79% of brokers bullish on the shares and a 87% of price targets suggesting upside from current levels. This supports continuation of the long term uptrend, with a rebound from rising support at 720p, potentially all the way back to Feb highs of 900p and, hopefully, the channel ceiling around 940p.
Next Event: AGM, 26 Apr; Q1 update, 1 May
Latest Broker 12-Month Consensus: 79% Buy, 10.5% Hold, 10.5% Sell (full breakdown on request)
Source: DowJones Newswires, Reuters News, Bloomberg or Company Press releases
| Share | 1wk | 1m | 3m | 6m | 1yr | 2yr | 3yr | 4yr | 5yr |
| Perf % | -8.7 | -5.5 | -0.7 | 14.5 | 34.4 | 100.4 | 133.7 | – | – |
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