RCR Tomlinson (RCR)
- May 4, 2024
- 1 min read
Elise Shaw Markets Online Editor
Updated Feb 24, 2014 – 5.01pm,first published at Feb 20, 2014 – 7.32am
RBC Capital Markets has retained an “outperform" on RCR Tomlinson and a 12-month price target of $3.80 a share on the stock.
It said the company’s first-half result was in line with expectations, though more importantly, it forecasts that cash flow in the second half will be very strong and should lead to a significant reduction in gearing.
“Likely margin improvement in the acquired Norfolk [Group] leaves RCR positively leveraged," RBC said.
“Overall, the result was in line with expectations and was a record half. RCR remains one of the few stocks in the sector poised to post growth in 2013-14 and is on track for a record 2013-14 result, in our opinion."
