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Prices & Quotes - UK Markets - John Laing Group (JLG)

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 399.60p
Change Today:
-0.40p
Market Cap:
1,971.03m
Sector:
Financial Services

Liberum downgrades John Laing but lifts target price on KKR talks

By Michele Maatouk

Date: Friday 07 May 2021

LONDON (ShareCast) - (Sharecast News) - Liberum downgraded its recommendation on shares of John Laing to 'hold' from 'buy' after the infrastructure investor confirmed it was in talks with private equity firm KKR about a possible takeover.
The broker, which lifted its price target on the stock to 380p - the price at which it expects a bid - from 350p, said it was not surprised that KKR sees value in the company.

"They could be accused of being opportunistic," Liberum said, adding that "others may gate-crash the party creating a competitive tension".

However, it said that low risk assets generally get low returns. "Normal take-over premia across the market might be 30%," the broker said. "But we agree with an industry insider who told us '20% would be a great result for Laing's shareholders'. Similar companies tend to trade at circa 10% of NAV."

Liberum said a higher price might be achievable if the buyer can generate synergies.

"The likely buyer of John Laing would probably provide deep pockets, flexible finance and a low cost of capital. A buyer could pay a bigger premium if it believes that John Laing's management team provides the rare skills to access significant investment opportunities in the infrastructure market."

At 1000 BST, the shares were down 3.8% at 365.40p, having surged a day earlier on news of the deal talks.

Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

 

JLG Market Data

Currency UK Pounds
Price 399.60p
Change Today -0.40p
52 Week High 404.40p
52 Week Low 273.60p
Volume 1,843,866
Shares Issued 493.25m
Market Cap 1,971.03m

Performance Indicators

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What The Brokers Say

Strong Buy 1
Buy 0
Neutral 3
Sell 0
Strong Sell 0
Total 4
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

JLG Dividends

  Latest Previous
  Final Special
Ex-Div 29-Apr-21 29-Apr-21
Paid 14-May-21 14-May-21
Amount 3.76p 4.06p

Trades for 22-Jun-2021

Time Volume / Share Price
16:35 1,000,000 @ 400.20p
16:35 556,481 @ 399.60p
16:29 12 @ 400.00p
16:29 159 @ 400.00p
16:29 245 @ 399.80p

JLG Key Personnel

CEO Ben Loomes
CFO Robert Memmott