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Prices & Quotes - UK Markets - TT Electronics (TTG)

Risk Warning The value of investments can fall as well as rise and any income from them is not guaranteed and you may get back less than you invested. Past performance is not a guide to future performance.

Share Price:
Down 276.50p
Change Today:
-1.00p
Market Cap:
483.76m
Sector:
Electronic & Electrical Equipment

Berenberg raises target price on TT Electronics

By Iain Gilbert

Date: Thursday 29 Apr 2021

LONDON (ShareCast) - (Sharecast News) - Analysts at Berenberg raised their target price on electronic resistors manufacturer TT Electronics from 230.0p to 285.0p, stating cash was "king".

Berenberg acknowledged that it had "long told the story" of TT Electronics' improving growth and margin profile, but noted that the third facet of its investment case was now emerging - cash.

"With an inflection in cash generation next year, we forecast a 5.2% free cash flow yield, well ahead of TT's closest peers like discoverIE," said Berenberg, which also highlighted that upside risks were attached assuming a successful buyout of the firm's pension scheme.

Considering that TT "should sustainably deliver 3-5% organic growth and 10%-plus margins on a two- to three-year view", the German bank thinks the stock's valuation remained "compelling" and said it considers the group's Virolens Covid-19 testing device "a free option at these levels".

"On an organic basis, our group expectations are largely unchanged, but updated FX and higher tax rate assumptions drive a 5-7% downgrade to our 2021 and 2022 EPS. Our FY 2023 EPS is unchanged," said Berenberg, which also reiterated its 'buy' rating on the stock.

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TT Electronics Market Data

Currency UK Pounds
Price 276.50p
Change Today -1.00p
52 Week High 290.00p
52 Week Low 170.00p
Volume 22,646
Shares Issued 174.96m
Market Cap 483.76m

Performance Indicators

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What The Brokers Say

Strong Buy 6
Buy 1
Neutral 1
Sell 0
Strong Sell 0
Total 8
strong_buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

TT Electronics Dividends

  Latest Previous
  Interim Final
Ex-Div 23-Sep-21 29-Apr-21
Paid 14-Oct-21 21-May-21
Amount 1.80p 4.70p

Trades for 17-Sep-2021

Time Volume / Share Price
14:00 351 @ 276.50p
14:00 567 @ 276.50p
14:00 2 @ 277.00p
14:00 454 @ 276.50p
14:00 18 @ 276.50p

TT Electronics Key Personnel

CFO Mark Hoad
Chair Warren Tucker