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Prices & Quotes - UK Markets - Dechra Pharmaceuticals (DPH)

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 3,430.00p
Change Today:
-22.00p
Market Cap:
3,709.64m
Sector:
Pharmaceuticals & Biotechnology

JP Morgan raises target price on Dechra Pharmaceuticals

By Iain Gilbert

Date: Thursday 26 Nov 2020

LONDON (ShareCast) - (Sharecast News) - Analysts at JP Morgan Cazenove raised their target price on veterinary pharmaceuticals group Dechra from 3,200.0p to 3,600.0p on Thursday, stating they expect a year of "strong topline growth" to take place in 2021.
Despite lingering pressures from Covid-19, JP Morgan still sees Dechra delivering 11% revenue growth in the coming year, or 5% on an organic basis, and after also reflecting increased research and development investment and dilution from the company's June equity raise, the analysts still see roughly 5% core earnings per share growth.

Looking beyond 2021, JPM expects organic earnings per share growth to accelerate to "a double-digit" compound annual growth rate for 2022-24, with continued strong topline and margin expansion.

"Our forecasts could also prove conservative for 2021 and beyond, given the recent Covid-19 prompted spike in dog ownership, which could translate into a demand boost for Dechra products," added JPM.

On top of this, the analysts noted that it also sees further potential upside from Dechra putting its now under-geared balance sheet to use.

"With a strong and sustainable organic growth outlook, M&A upside, and diversification from US healthcare reform headwinds, we remain 'overweight'," said JPM.

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DPH Market Data

Currency UK Pounds
Price 3,430.00p
Change Today -22.00p
52 Week High 3,802.00p
52 Week Low 2,168.00p
Volume 275,383
Shares Issued 108.15m
Market Cap 3,709.64m

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What The Brokers Say

Strong Buy 5
Buy 0
Neutral 3
Sell 0
Strong Sell 1
Total 9
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

DPH Dividends

  Latest Previous
  Interim Final
Ex-Div 04-Mar-21 05-Nov-20
Paid 07-Apr-21 27-Nov-20
Amount 11.11p 24.00p

Trades for 26-Feb-2021

Time Volume / Share Price
16:35 139,877 @ 3,430.00p
16:29 4 @ 3,436.00p
16:29 5 @ 3,436.00p
16:29 5 @ 3,434.00p
16:29 2 @ 3,434.00p

DPH Key Personnel

CEO Ian Page
CFO Paul Sandland