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

Nar...........nar youve got it wrong and so as that editor up on iii Hes obviously just a fundys man and doesnt see the opportunity the TA on the chart presents.

Good luck tho.

I just posted the article as a FYI -

I just posted the article as a FYI -

FYI - ??? oh for your info?.

No probs.

That chaps got it wrong imo.

Might get a small pullback ist thing in the morning, then Ill add, but reckon itl go into weekend well up.

What ur realistic sp target? GF

122p by end of spring. Gap on chart filled.

Made enough for a short break on this today! I think I'll cook it, er book it, Thomas Cook it.

Broker Updates..........


Date Company Name Broker Rec. Price Old target price New target price Notes

08 Feb 13 Thomas Cook Group... UBS Buy 0.00 75.00 100.00 Retains
08 Feb 13 Thomas Cook Group... Morgan Stanley Overweight 0.00 60.00 100.00 Reiterates
07 Feb 13 Thomas Cook Group... Credit Suisse Outperform 0.00 36.00 93.00 Reiterates

N@P B/Society.

Said their was still time to get in here.

My target is 122p first up.

More on that Suisse upgrade......

Broker snap: Credit Suisse ups target price on Thomas CookThu 07 February 2013 14:08
A A A
Shares in Thomas Cook got an extra boost on Thursday after Credit Suisse gave it a significantly higher target price of 93p (from 36p previously) on the back of a 'solid' first quarter performance.

During the period the company identified cost savings of a further £60m, which Credit Suisse said lifts its full year 2014 earnings before interest and tax by £33m.

It said the new 93p target price implies a 30% upside potential, and retained its 'outperform' rating on the stock.

The broker pointed to the company's improved gross margins, which were up 130 basis points, as well as its sustained debt improvements since September 2012.

The group's total cost savings for the full year 2013-15 are now at £240m.

Thomas Cook reported an operating loss of £69.8m of the last three months of 2012, a 23% drop on the £91.1m loss in the previous year.

Overall, loss before tax came to £127.9m, a 15% drop compared to the £151.7m reported for the same period a year ago.

However, total revenues fell 7.3% to £1.72bn during the period and gross profit was down 3.5% to £377m for the period.

great run......profit is not a profit till sold,am out for now.

Bullish read......

http://www.telegraph.co.uk/finance/newsbysector/retailandconsumer/leisure/9856428/Thomas-Cooks-turnaround-plan-kicks-in-as-performance-improves.html

GF,

You were right.

I will watch for a while. Don't like Fridays.

122p my SP target.......

GF - you are not doing the chart justice :-)

common sense says that these have gone far too far too fast, but for sure i'm not brave enough to short!

UBS FULL BROKER NOTE THIS MORNING......

Consumer, Cyclical

Thomas Cook (TCG.L)

Alex Brignall.................. +44-20-7568 5674
Analyst
alex.brignall@ubs.com
Jarrod Castle, CFA..........+44-20-756 88883
Analyst
jarrod.castle@ubs.com

Price (06 Feb 2013)................ 86p/US$1.34
12-month rating............ Buy * (Unchanged)
12m price target.....Prior: 75p/US$1.17 =>
100p/US$1.57
Market cap...................£0.75bn/US$1.17bn
Full-Year EPS
2013E................................... 4.60p => 5.05p
2014E................................. 8.65p => 11.47p


L.ook after the pennies… Strong capacity control and encouraging pricing environment
Q1 revenues were down 7% to £1742m, driven by capacity reductions, most notably in
Continental Europe. The upshot of this has been a better pricing environment, with pricing up
6.-14% in winter and 0-3% for the summer season. Cost guidance improved and better trading driving improved profitability
Market focus was likely to be on any improvement to the cost guidance, and it came with an
additional £60m to be delivered by FY15, with £10m of additional extraction costs. We expect
more to come at the CMD. More impressively, the £22m improvement in Q1 profitability was not
impacted at all by cost measures, but rather better trading, suggesting further upside to the
current consensus EBIT uplift by 2014, particularly with H2 facing the softest comps from last
y.ear. Increasing EBIT forecasts by £50m in 2014, now see £140m uplift 2012-14
We have increased our 2014E EBIT by £40m (15%). We believe this remains conservative as it
assumes only a £10m additional gain from trading improvements beyond the £130m cost
reduction plan. We continue to forecast £125m of annual cash restructuring costs, which is
above the current guidance, and we believe any capital increase will lead to further
restructuring. The most significant project is to build an effective IT platform, though this is likely
t.o be a longer-term plan. Valuation – Reiterate Buy rating, PT increased to 100p from 75p
Owing to the significant financial leverage, our 15% EBIT increase in 2014 drives a 33% price
target increase to 100p (from 75p). We continue to value Thomas Cook on 5.6x 2014E EV/
EBITDAR, a 10% discount to history.
-
European Morning Meeting Highlights 08 February 2013
UBS 6

From the UBS note - I'd have thought that after the trading update yesterday, a quid target (bottom of the gap), is a fairly safe call!

Just been upgraded to Buy from hold.

28 Nov 12 Thomas Cook Group... Oriel Securities Hold 87.13 - - Reiterates

NOW

08 Feb Thomas Cook Group... TCG Oriel Securities Buy 86.38 85.50 - - Upgrades

HSBC upgrades £1.

Missed that.