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(Sharecast News) - Analysts at Berenberg hiked their target price on publishing and events group Informa 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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