Leading International Investment Research

Edison Investment Research

Edison is an investment research and advisory company, with offices in North America, Europe, the Middle East and AsiaPac. The heart of Edison is our world renowned equity research platform and deep multi-sector expertise. At Edison Investment Research, our research is widely read by international investors, advisors and stakeholders. Edison Advisors leverages our core research platform to provide differentiated services including investor relations and strategic consulting.

Leading International Investment Research, Edison Investment Research

Equity Bottom-Up

<p>John Laing Group (JLG) stands at a c 6% premium to its FY19 NAV of 337p per share compared to peer-group NAV premiums of over 10%. This appears modest for a business that, since its 2015 IPO, has delivered 14% compound annual growth in NAV per share (including dividends paid), which we expect to continue to grow at c 10% pa (including dividends). Successful disposal of its renewable assets could be a catalyst for share price appreciation. </p>

John Laing Group (JLG) stands at a c 6% premium to its FY19 NAV of 337p per share compared to peer-group NAV premiums of over 10%. This appears modest for a business that, since its 2015 IPO, has delivered 14% compound annual growth in NAV per share (including dividends paid), which we expect to continue to grow at c 10% pa (including dividends). Successful disposal of its renewable assets could be a catalyst for share price appreciation. 

John Laing Group  - NAV growth despite challenges