Tristel (TSTL)

Sector:

Health Care

Index:

FTSE AIM 100

432.50p
   
  • Change Today:
    -2.50p
  • 52 Week High: 500.00
  • 52 Week Low: 350.00
  • Currency: UK Pounds
  • Shares Issued: 47.68m
  • Volume: 47,642
  • Market Cap: £206.20m
  • RiskGrade: 180
  • Beta: 0.03

Broker tips: Fevertree,Tristel

By Michele Maatouk

Date: Thursday 25 May 2023

LONDON (ShareCast) - (Sharecast News) - Liberum hiked its price target on Fevertree Drinks on Thursday to 1,500p from 1,000p following an update from the posh tonic maker.
The broker, which has a 'hold' rating on the shares, pointed to the improving cost outlook.

Liberum noted that trading year-to-date has been in line with expectations and the company has maintained guidance of 13% to 18% sales growth and £36m to £42m adjusted EBITDA.

"Encouraging signs include a strong UK On-Trade performance with value share in 1Q'23 6pts higher than 1Q'20, and a strong start in both On and Off-Trade in the US," it said.

"Cost pressures, particularly in glass, remain elevated for 2023 but should subside from 2024 onwards, with self-help initiatives like local US production. It remains to be seen how low glass and logistics costs end up which remains key to the pace of the margin recovery, but we see a return to historic levels of high 20%s/low 30%s EBITDA margin as unlikely."

Liberum said the brand's 2-4x price premium and dependence on glass to enforce the premium nature leave it less flexible on pricing and vulnerable to cost pressures.

It added that the current valuation at 35x EV/EBITDA and 60x price-to-earnings remains high - versus a 10-year average of 34x and 47x - already builds in some margin recovery expectations.

Elsewhere, Numis started coverage of Tristel with an 'add' rating and 390p price target.

It said Tristel is a unique play within UK Medtech, offering high-level disinfectants, backed by a proprietary chemistry, used for the decontamination of medical devices and surfaces in hospitals.

"We think Tristel could more than double revenue and profits over five years, with the base business underpinned by diagnostic procedure demand, while potential US market expansion, pending FDA approval, represents a significant growth inflection point, which we believe is partly discounted."

Numis said that optically, its multiple - circa 15x EV/EBITDA - is not particularly cheap, but should growth catalysts materialise, "we could see outer year multiples unwind".

"With the FDA decision pending (Jun-23), we account for some US optionality, setting our target price at 390p, and initiate with an add rating."

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

Note 2: RiskGrade figures are provided by RiskMetrics.

 

Tristel Market Data

Currency UK Pounds
Share Price 432.50p
Change Today -2.50p
% Change -0.57 %
52 Week High 500.00
52 Week Low 350.00
Volume 47,642
Shares Issued 47.68m
Market Cap £206.20m
Beta 0.03
RiskGrade 180

Tristel Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
97.1% below the market average97.1% below the market average97.1% below the market average97.1% below the market average97.1% below the market average
94.29% below the sector average94.29% below the sector average94.29% below the sector average94.29% below the sector average94.29% below the sector average
Price Trend
39.22% above the market average39.22% above the market average39.22% above the market average39.22% above the market average39.22% above the market average
72.97% above the sector average72.97% above the sector average72.97% above the sector average72.97% above the sector average72.97% above the sector average
Income
22.85% below the market average22.85% below the market average22.85% below the market average22.85% below the market average22.85% below the market average
75.00% above the sector average75.00% above the sector average75.00% above the sector average75.00% above the sector average75.00% above the sector average
Growth
77.24% above the market average77.24% above the market average77.24% above the market average77.24% above the market average77.24% above the market average
94.44% above the sector average94.44% above the sector average94.44% above the sector average94.44% above the sector average94.44% above the sector average

What The Brokers Say

Strong Buy 1
Buy 1
Neutral 2
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.

Tristel Dividends

  Latest Previous
  Final Interim
Ex-Div 28-Nov-24 21-Mar-24
Paid 20-Dec-24 12-Apr-24
Amount 8.28p 5.24p

Trades for 08-Nov-2024

Time Volume / Share Price
16:28 10,229 @ 439.85p
14:33 3,990 @ 429.00p
16:19 1,690 @ 432.00p
16:19 1,690 @ 430.00p
16:17 891 @ 425.00p

Tristel Key Personnel

Finance Director Elizabeth Dixon
CEO Matthew (Matt) Giovanni Sassone

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