bullish

Walker Greenbank - Strategy refreshed, key estimates unchanged

1.7k Views09 Dec 2019 21:14
Issuer-paid
SUMMARY

A narrower focus on core business strengths driven with greater operational intensity is an appealing proposition under a revised strategy and new senior management team. More detail will emerge here, but an intention to regain revenue momentum will be a clear marker to watch. H120 results were in line with pre-close comments and our earnings estimates are unchanged at this stage. They – and we suspect the company valuation – have yet to fully factor in renewed strategic impetus.

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