XP Power Ltd. (DI) (XPP)

Sector:

Electronic and Electrical Equipment

Index:

FTSE Small Cap

1,042.00p
   
  • Change Today:
      6.00p
  • 52 Week High: 2,440.00
  • 52 Week Low: 776.00
  • Currency: UK Pounds
  • Shares Issued: 23.68m
  • Volume: 57,474
  • Market Cap: £246.76m
  • RiskGrade: 173

Berenberg hikes target price on XP Power

By Iain Gilbert

Date: Friday 17 Nov 2023

LONDON (ShareCast) - (Sharecast News) - Analysts at Berenberg raised their target price on power supply solutions provider XP Power from 1,400.0p to 1,600.0p on Friday after having upgraded the group to 'buy' last month.
Berenberg said that after upgrading the stock following its 2 October profit warning and an expected equity raise, it was now out the other side of the event, with the company having raised roughly £45.0m earlier in November. While not quite the form or size of the approximately £80.0m rights issue it had anticipated, Berenberg noted XP's shares were still up by roughly 25% since 25 October.

"Now, the balance sheet has been repaired and the valuation continues to be attractive when we consider self-help measures and our view of XPP's status as a long-term winner," said Berenberg.

While shorter-term markets remain challenged, Berenberg thinks the stock's risk/reward scenario has become "comfortably skewed" to the upside for investors.

"XPP trades on 12.8x FY24 P/E and 10.1x FY25 P/E. Previously, we have commented on potential pressures on FY24 trading given uncertainty around the semiconductor cycle, but new clarity on self-help measures offers further downside protection on our already trough-margin forecasts," said the analysts.

"We would also note, although no detail was given, XPP announced it received several takeover approaches during October. If we were to assign the average UK takeout premium year-to-date of circa 49% to the £10 price the shares settled at pre-raise, this would imply comfortable upside to the shares from here as well."





Reporting by Iain Gilbert at Sharecast.com

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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.

 

XPP Market Data

Currency UK Pounds
Share Price 1,042.00p
Change Today 6.00p
% Change 0.58 %
52 Week High 2,440.00
52 Week Low 776.00
Volume 57,474
Shares Issued 23.68m
Market Cap £246.76m
RiskGrade 173

XPP Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
46.23% above the market average46.23% above the market average46.23% above the market average46.23% above the market average46.23% above the market average
82.35% above the sector average82.35% above the sector average82.35% above the sector average82.35% above the sector average82.35% above the sector average
Price Trend
61.82% above the market average61.82% above the market average61.82% above the market average61.82% above the market average61.82% above the market average
84.62% below the sector average84.62% below the sector average84.62% below the sector average84.62% below the sector average84.62% below the sector average
Income
85.14% above the market average85.14% above the market average85.14% above the market average85.14% above the market average85.14% above the market average
20% below the sector average20% below the sector average20% below the sector average20% below the sector average20% below the sector average
Growth
7.48% below the market average7.48% below the market average7.48% below the market average7.48% below the market average7.48% below the market average
47.06% below the sector average47.06% below the sector average47.06% below the sector average47.06% below the sector average47.06% below the sector average

What The Brokers Say

Strong Buy 3
Buy 4
Neutral 0
Sell 0
Strong Sell 0
Total 7
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

XPP Dividends

  Latest Previous
  Q2 Q1
Ex-Div n/a 15-Jun-23
Paid n/a 13-Jul-23
Amount 0.000p 18.00p

Trades for 28-Feb-2024

Time Volume / Share Price
16:36 1,629 @ 1,041.33p
16:36 371 @ 1,041.33p
16:35 7,821 @ 1,042.00p
16:35 193 @ 1,042.00p
16:35 73 @ 1,042.00p

XPP Key Personnel

CEO Gavin Griggs
Chair Jamie Pike

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