Engineering
By Michele Maatouk
Date: Wednesday 26 Apr 2023
LONDON (ShareCast) - (Sharecast News) - RBC Capital Markets initiated coverage of Dowlais on Wednesday with an 'outperform' rating and a "potentially conservative" sum-of-the-parts based 180p price target.
"We see Dowlais (the Melrose automotive spin-off) as a net winner in the EV transition, positioned to outgrow the underlying auto markets and significantly expand operating margins," RBC said.
"The business is underpinned by a dominant position in sideshafts, which alone can account for circa 90% of the group market cap today despite only being half of the group sales, such that the other circa 50% of sales appears nearly free."
At 1025 BST, Dowlais shares were up 1.1% at 126.40p.
Email this article to a friend
or share it with one of these popular networks:
Currency | UK Pounds |
Share Price | 54.00p |
Change Today | 0.80p |
% Change | 1.50 % |
52 Week High | 107.35p |
52 Week Low | 47.84p |
Volume | 2,564,927 |
Shares Issued | 1,358.51m |
Market Cap | £733.60m |
Beta | 1.04 |
RiskGrade | 417 |
Value |
---|
Price Trend |
---|
Income |
---|
Growth |
---|
Latest | Previous | |
---|---|---|
Interim | Final | |
Ex-Div | 29-Aug-24 | 18-Apr-24 |
Paid | 04-Oct-24 | 30-May-24 |
Amount | 1.40p | 2.80p |
Time | Volume / Share Price |
17:05 | 110,500 @ 54.00p |
15:27 | 15 @ 53.60p |
16:35 | 21,458 @ 54.00p |
16:35 | 8,177 @ 54.00p |
16:29 | 1,762 @ 53.80p |
CEO | Liam Butterworth |
CFO | Roberto Fioroni |
You are here: research