Numis ups price target on Informa
By Abigail Townsend
Date: Friday 10 Mar 2023
(Sharecast News) - Numis has increased its target price on Informa, after the media group announced it was acquiring events organiser Tarsus in a $940m deal.
The blue chip said on Thursday that it had agreed to acquire Tarsus from Charterhouse Capital Partners, allowing it to further strengthen its portfolio of live and on-demand business-to-business events in Asia, China, the Middle East and the Americas. It also posted positive full-year figures, including a 43% jump in revenues.
In a note published afterwards, Numis - which has an 'add' recommendation on the stock - increased its target price to 800p from 750p.
It said: "[The] Tarsus acquisition looks sensible strategically, with some cost synergy plus mid-term event/revenue opportunities, given sector overlap, as well as via data. This is an asset we know well and we the business as tightly managed historically."
Numis concluded: "[We] remain positive on event fundamentals and strategic positioning, even with macro downturn, given post Covid-19 recovery tailwinds, new initiatives and China bounce-back."
As at 1030 GMT, shares in Informa were off 1% at 687.8p.
Email this article to a friend
or share it with one of these popular networks:
You are here: news
10 Lower Thames St,
London EC3R 6EN