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Edison Investment Research

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Leading International Investment Research, Edison Investment Research

Equity Bottom-Up

<p>XP reported a strong performance in H117 and is seeing good demand across its customer base. Based on the order intake in H1, management has a more positive outlook for FY17 and we have upgraded our forecasts accordingly. Our normalised EPS forecasts increase by 8% in FY17 and 3% in FY18. To support future growth, XP is investing in manufacturing capacity in Vietnam and engineering resource, and continues to look for suitable acquisitions.</p>

XP reported a strong performance in H117 and is seeing good demand across its customer base. Based on the order intake in H1, management has a more positive outlook for FY17 and we have upgraded our forecasts accordingly. Our normalised EPS forecasts increase by 8% in FY17 and 3% in FY18. To support future growth, XP is investing in manufacturing capacity in Vietnam and engineering resource, and continues to look for suitable acquisitions.

XP Power Ltd

Broad based demand drives upgrade