Market's view on PageGroup
Published on April 2024
- UBS has upgraded PageGroup from ‘neutral’ to ‘buy’, with a price target raised from 460 to 520 pence.
- A stock watcher noted the revised operating profit forecast for a company, where Q3 was between £125m to £130m excluding £5m in restructuring costs, and Q4 forecast is £120m to £125m including the £5m costs, indicating the forecasts for FY23 have not been reduced.
- There is a mention of a company’s stock appearing buoyant and close to its annual high, with consideration given to selling some shares due to the overbought condition.
- A stock watcher added shares of a company, suggesting a positive sentiment.
- Jefferies raised PageGroup from underperform to hold, increasing the target price from 375 to 420.
- Another company set an updated strategy targeting £400m Operating Profit and £1.5bn in shareholder distributions by 2030, suggesting a significant improvement over past performance, though the market seems sceptical.
- PageGroup was noted to significantly outperform RWA based on recent results.
- Concerns were mentioned about a potential market downturn following the retirement announcement of Mr Walters from PageGroup.
- A quarterly report was anticipated with hopes that it would not lead to a typical sell-off, encouraged by positive market reactions to a competitor’s growth in net fees.
- A stock watcher expressed confusion over a company’s financial update which seemed average.
- A sentiment was shared that despite a reduction in operating profit by about 4.8%, there remains decent upside potential assuming a short-lived recession.
- Observations were made of a similar trading pattern to RWA, suggesting a consistent industry trend.