By Michele Maatouk
Date: Thursday 07 Jul 2022
LONDON (ShareCast) - (Sharecast News) - Liberum upped its price target on Trainline on Thursday following the company's trading update and increased guidance a day earlier.
The broker, which rates the shares at 'buy', said Trainline's first four months of trading have performed ahead of expectations, with net ticket sales up 16% versus FY20 levels.
"Trainline provided updated FY23E guidance which at the midpoint points to circa 20% and 30% upgrades to consensus revenue and adjusted EBITDA," it said. "We have upgraded our FY23E forecasts by 15% and 26% respectively."
Liberum noted that Trainline shares closed up 21% on Wednesday.
"Following yesterday's share price move and our change in forecasts Trainline's shares are trading on CY22E EV/Sales of 5.4x.
"We increase our target price to 470p (from 435p) and we believe that the shares should continue to re-rate.
"We see Trainline as the long-term winner in a structurally growing market and the strength of the recovery post-Covid is supportive of this view."
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Currency | UK Pounds |
Share Price | 342.40p |
Change Today | 4.40p |
% Change | 1.30 % |
52 Week High | 381.00 |
52 Week Low | 216.40 |
Volume | 610,938 |
Shares Issued | 468.80m |
Market Cap | £1,605.17m |
RiskGrade | 288 |
Value |
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Price Trend |
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Income |
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Growth |
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No dividends found |
Time | Volume / Share Price |
16:35 | 168,582 @ 342.40p |
16:35 | 106 @ 342.40p |
16:35 | 339 @ 342.40p |
16:35 | 124 @ 342.40p |
16:35 | 464 @ 342.40p |
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