|No. of shares out||73m|
|Trading volume (90 day avg.)||0.1m|
|Cash per share||37.71p|
Berenberg: there’s more to play for at Renishaw
Engineering group Renishaw (RSW) still has further to climb despite a 20% rally in the share price, says Berenberg.
Analyst Anthony Plom retained his ‘buy’ recommendation and increased his target price from £57 to £62. The shares were trading at £57.30 yesterday.
Plom initiated coverage on the stock with a ‘buy’ recommendation a month ago, since when the shares have rallied by around 20%.
He said the ‘investment thesis is playing out exactly as expected’ with an in-line first quarter update.
‘We have, however, received a number of investor pushbacks on our thesis, several of which have been amplified by the 20% share price rally,’ Plom added.
‘Yet, despite the strong run, we continue to think the outlook is attractive, with huge upside potential if certain scenarios play out.’