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

RESEARCH ALERT-Thomas Cook: Jefferies starts with buy rating

21 Feb 2013 - 05:57

Feb 21 (Reuters) - Thomas Cook Group PLC : * Jefferies starts with buy rating; price target of 155p For a summary of rating actions and price target changes on European companies: Reuters Eikon users, click on [RCH/EUROPE] Reuters 3000Xtra users, double-click [RCH/EUROPE] Reuters Station users, click .1580 ((nyc.equities.newsroom@reuters.com); (Reuters Messaging: saqib.ahmed.thomsonreuters.com@reuters.net) ((Bangalore Newsroom +91 80 4135 5800; within U.S. +1 646 223 8780

Thomas Cook Group plc : TCG shares could hit 155p argues Jefferies analyst who sees firm on the 'road to rehabilitation'

Details Category: Share Price Drivers Published on Thursday, 21 February 2013 14:36 Written by Rob Samson

Thomas Cook Group plc (LON:TCG) shares are a Buy with analysts at Jefferies who see the stock cracking through the 100 level before heading to their target price at 155p.

Core to the bullish case behind the Thomas Cook stock is the 'road to rehabilitation' the firm has embarked on under newly arrived CEO Harriet Green.

Green's initial plans include:

i) turning around the UK business,

ii) building an effective organisation,

iii) getting control of costs and cash and

iv) creating profitable growth.

"Beyond these generalisms, we anticipate a more focussed Thomas Cook (product, distribution, efficiency) driving profitable growth from its 23m strong customer base. A strategic review is due on 13 March 2013," says the investor briefing issued by Jefferies.

Financial performance seen improving

"FY12 should mark the low point for profitability (or lack of), but gauging the extent and speed of recovery is difficult. Aggregating the savings and turnaround benefits already announced implies almost £400m proforma EBIT. Our forecasts are a little more conservative (but ahead of consensus): we forecast FY15 EBIT of £360m. Net debt should start to come down meaningfully from FY14," say Jefferies.

TCG to remain covenant compliant

Concerning Thomas Cook's debt situation, Jefferies say:

"TCG should remain covenant compliant, although headroom is tight on our forecasts. Raising £400m would reduce peak leverage to 3.5x from 4.4x, easing the refinance risk and allaying any lingering financial concerns (for both investors and customers)."

has the bubble burst?

Thank you for that goldfinger - interesting reading. Yet another broker in disagreement with Panmure Gordon and Barclays.

Makes you wonder what going on at those 2 broker houses.

i was very happy to bank a(nother) respectable profit here this morning

Well like you always say cyners a profit is a profit and I respect a man who can do that and move on.

Personaly I still think theirs a lot more left in it. Im holding and may add.

there may well be, and depending on how the markets behave, i may come in again ...... meanwhile, i took a profit on a dow long, then short, and am now long again and well in the money ..... took a smallish loss on C+M Index, but now back in again long, and have recovered that loss at least on paper - all in all, quite satisfactory in a tricky time

Well done..... cyners think you are the best trader ive seen on the markets. thats a long time in my case 30 year plus.

Mind I didnt become a trader until I retired in 2008 then i was a contrarian mid term investor.

Some think Ive done the wrong thing, but i love the day to day action.

Only got fishing................................. and drinking as an alternative.

i'm not - i'm absolute crap, though i not only own up to successes, but also to (most of!) my crap calls

LOL......... bull again.

Some of your buys when nothing appeared on the cards were brilliant.

Tell U this tho ........ you are a good manager.

Illl take a good manager of a portfolio over a good stock picker any time.

L&G > 3%

Brilll

Skinny are u in and at what Sp, sorry if u dont want answer that. my appoligies

1st purchase @24.06 sold some @39.4, bought more @35.84 sold some....last purchase @85 ..... etc etc.

Most of it is probably on this thread if you want to go back to November (ish)

You guys still hanging on here, or been stopped out?

sticky - and i'm glad i sold up here (banked the profit) a few days ago too - as posted!

Harry - yep, still got some.

Yep still very much in. Did sell most a few weeks back on concerns of rights issue. Think I was posting with doodle bug about it.

Repurchased the lot and still nicely in profit.

Dont forget one broker with SP target of 155p now.

Think its jeffries.

Starting to use sept contracts. Gives far more breathing space even if losing a point or two of profit.

HARRYCAT, I'm still hanging on as I see no reason to sell just because the markets are having a couple of bad days. The next two or three weeks should see this hit 120 - 130p - the only thing to stop that happening would be a constant downward spiral of the FTSE. imo And I can't really be bothered trading this share -buy/sell/buy, it's always been a long term hold for me since 22p.