Master RSI
- 30 Jul 2007 09:34
- 21 of 50
Good morning all, one for the "UPS" ......
UPS (Added by Master RSI on Mon 30 Jul 09:28 am)
FAN - Mid 102.5p
Reason -- Very positive statement this morning
Master RSI
- 30 Jul 2007 09:51
- 25 of 50
FAN 103 - 107p +11p
It seems there was an early recomendation this morning after the news from ....... DS
First Artist - BUY
Price: 94p Target price: 174p Analyst: James Hollins
First Artist
Positive trading update
First Artist has released a positive trading update. Following a weak share price run, the shares are significantly undervalued.
The group highlights record trading during June for both The Finishing Touch (event management division) as well as its wealth management operations, Optimal.
The bullish tone encompasses all divisions, with Dewynters, the largest division, continuing to make a strong contribution, Newman Displays trading is very buoyant and First Artist Sport (sports agency) is performing well.
The Finishing Touch has exceeded the terms of its earn-out targets and First Artist is therefore issuing the second tranche of shares (43k shares) and 430k of loan notes.
Overall, management states that trading is strong and in line with its expectations.
On this basis, we retain our forecasts of 13.26p earnings to FY07E (August period-end) and 15.66p to FY08E. With the shares standing at just 7.1x FY07E EPS (6.0x FY08E), we retain our Buy recommendation and 174p target price (85% upside).