Jefferies analyst Andrew Douglas maintained a Buy rating on Bodycote (BOY – Research Report) today and set a price target of p890.00.
Andrew Douglas has given his Buy rating due to a combination of factors that highlight Bodycote’s strong performance and potential for future growth. The company’s FY24 preliminary results exceeded expectations, showing resilience in a challenging market environment. Specialist Technologies, in particular, demonstrated robust performance, achieving significant improvements in EBITA margins.
Despite a mixed macroeconomic backdrop and anticipated lower consensus forecasts for FY25, Bodycote has made substantial progress on its strategic objectives. The company has effectively managed to increase margins and continues to show potential for further improvements. This progress, along with management’s confidence in achieving medium-term goals, underpins the Buy rating from Andrew Douglas.
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