Results out soon in August.

Broker recos look very bullish and why not on a P/E of just over 6 to 2011.....

Thomas Cook Group PLC

FORECASTS 2010 2011
Date Rec Pre-tax (�) EPS (p) DPS (p) Pre-tax (�) EPS (p) DPS (p)

Panmure Gordon
02-08-10 BUY 319.00 27.10 11.30 338.00 28.70 12.40

Exane BNP Paribas
02-08-10 BUY 116.00 26.62 10.75 319.00 28.87 11.66

Numis Securities Ltd
02-08-10 ADD 324.20 27.60 11.25 357.10 29.90 11.81

Oriel Securities
02-08-10 BUY 330.40 28.40 11.40 363.50 31.30 12.10

KBC Peel Hunt Ltd
30-07-10 BUY 301.06 25.22 10.75 313.36 26.23 10.93

WestLB
30-07-10 SELL 28.81 11.52 29.91 11.96

Shore Capital
30-07-10 HOLD 312.00 26.50 11.80 347.00 29.50 13.00

Charles Stanley Securities
15-06-10 HOLD

Evolution Securities Ltd
11-02-10 None

Investec Securities [R]
09-02-10 BUY 327.00 27.30 11.74 352.23 29.39 12.49

Fyshe Horton Finney Ltd
25-01-10 BUY

Collins Stewart
24-12-09 BUY

Nomura Research Institute
25-09-09 RED

2010 2011
Pre-tax (�) EPS (p) DPS (p) Pre-tax (�) EPS (p) DPS (p)

Consensus 316.42 26.98 11.36 342.50 29.39 11.96

1 Month Change 1.07 -0.22 0.01 3.43 -0.14 -0.14
3 Month Change -11.92 -1.09 -0.05 -11.79 -1.00 -0.44


GROWTH
2009 (A) 2010 (E) 2011 (E)

Norm. EPS 2.76% 0.38% 8.92%
DPS 14.03% 10.80% 5.26%

INVESTMENT RATIOS
2009 (A) 2010 (E) 2011 (E)

EBITDA �574.90m �589.69m �613.90m
EBIT �372.50m �420.55m �447.05m
Dividend Yield 5.38% 5.96% 6.27%
Dividend Cover 2.62x 2.38x 2.46x
PER 7.10x 7.07x 6.49x
PEG 2.57f 18.55f 0.73f
Net Asset Value PS -240.80p 224.47p 240.43p

Thomas Cook shares dive on news of bank talks

Shares in Thomas Cook have opened down 62% after it announced it was in talks with banks about increasing the amount of money it can borrow.

The travel firm said it had seen a "deterioration of trading in some areas of the business".

It also said it would delay releasing its full year results until it had concluded the discussions.

10p now and could fall further.

I've already mentioned in middle of 2011 that TCG will deteriorate due to poor management. This is an investment for the foolish who thinks this will go up to 60p.

beleive 5p would be the low.

Cant understand how with 8billion t/o they cant make a penny.

200p to 13p quite impressive in a year

Comment from Peel Hunt:
The group is clearly in a very difficult position and it would appear that the route to recovery will have to be a lot more painful for equity holders than previously thought. Thomas Cook needs further assistance from its banks and this is unlikely to come cheaply or without preconditions which could involve equity. Therefore, the shares are best avoided until the picture clears.
What next? Firstly, the group needs to get the banks to agree to a new deal. They will undoubtedly be concerned that the situation has deteriorated so quickly and to such a degree that it has forced Thomas Cook to come back for more help. We believe that the banks will step up to the plate but the cost to equity shareholders is likely to be significant. Debt for equity swaps and equity issues are likely to form part of the discussions of putting the business on a more financially robust position.
No visibility. There is no visibility in the business and the outcome of discussions with the banks is uncertain. Given this it is difficult to ascribe an accurate value to the equity. Even the best possible outcome of a renegotiated bank deal with a few additional charges, is unlikely to help the share price given the rapid deterioration in trading and lack of confidence in the group. As a consequence the shares should be avoided. Sell

TT also getting hit today - in sympathy (whatever that means).

BBC news major headline today.

Mind the cat.

they have got there funding from banks

but surely 75% of their biz is holidays in egypt!!

cynic far from it i would never go there .now greece is far better .

wouldn't go to either ..... sharm has no appeal for me and the greeks can't cook!

cynic there is not many places that i have not been to .and after all said and done
the best places are iceland and yes good old scotland

i'll stick to provence for choice

Too much mist in Iceland and too many midges in Scotland. Provence an excellent choice. We are just back from Mahe.

StockMarketWire.com
Goldman Sachs upgrades Thomas Cook from sell to neutral, target cut to 14p. Davy Research downgrades Cairn Energy from outperform to underperform.

HSBC upgrades Pennon Group from neutral to overweight, target price cut from 790p to 780p.

UBS initiates buy on Polymetal International, target price 1400p.

Seymour Pierce initiates buy on Omega Diagnostics, target price 26p.

Numis upgrades EMIS Group from add to buy, target price unchanged at 635p.

Numis downgrades Keller Group from buy to add, target price cut from 600p to 280p. At 2:51pm:

(LON:CNE) Cairn Energy share price was -3.25p at 264.45p

(LON:PNN) Pennon Group share price was +10.25p at 683.75p

(LON:TCG) share price was +0.49p at 16.84p

Spike to 30p Monday, get out quick!

Banks to the rescue..

Thomas Cook secures new financing from lenders


{ 23:49, Friday 25 November 2011

LONDON (Reuters) - Thomas Cook Group Plc, said it will borrow another 100 million pounds, easing fears about the future of the world's oldest travel company, whose shares crashed earlier in the week when it asked its banks for new funding.

The 170-year-old company said its banks, led by Barclays Plc, HSBC Holding Plc (NYSE: HCS - news) , Royal Bank of Scotland Group Plc and UniCredit SpA, had agreed to provide a new 200 million pounds facility available until April 2013, which replaces the 100 million pounds short-term facility announced in October.

The banks have also agreed to relax the terms of an upcoming key test of its financial health, Europe (Chicago Options: ^REURUSD - news) 's second-biggest travel company said on Friday.

"This provides the group with much increased headroom to deal with unexpected events and the effects of an uncertain economic environment," the company said in a statement.

Thomas Cook shares, which had lost 94 percent of their value since the start of the year, fell 75 percent on Tuesday when it asked lenders to come to its rescue for the second time in five weeks. The stock closed 10 percent higher at 18.02 pounds on Friday.

"I am absolutely delighted that we have reached agreement and I would like to thank the banks for acting so swiftly," Acting Chief Executive Sam Weihagen said in a statement.

Thomas Cook has been hit hard by tough trading conditions, especially in Britain, where its core customer base of families with young children has been particularly affected by tough economic conditions. It was also hit by unrest in popular destinations such as Egypt, Tunisia and Morocco