Berenberg raises target price on Informa
Analysts at Berenberg hiked their target price on publishing and events group Informa Plc from 930.00p to 1,030.00p on Thursday following the group's H125 results a day earlier.
Berenberg said Informa's H125 results beat consensus adjusted operating expectations by 3.5% and noted that the group upgraded its FY2 earnings per share guidance to growth of above 10%.
The German bank said most of the beat and upgrade was driven by better-than-consensus margins in Informa's business-to-business events division, pointing out that a continuation of this was a core part of its 'buy' stance on the stock.
"We raise our EPS estimates by 3% and our price target to 1,030p. The shares trade on a FY25E P/E of 15.7x, falling to 14.7x in FY26E, for an EPS CAGR of 8%, excluding further buybacks, which we expect," said Berenberg.
"As Informa continues to demonstrate resilient growth despite macroeconomic volatility, we expect the shares to re-rate."
Reporting by Iain Gilbert at Sharecast.com
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