The Expert View: Renishaw, First Group and Learning Technologies

Key stats
Market capitalisation £4,205m
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.’


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