In a report released today, Sam Dindol from Stifel Nicolaus maintained a Buy rating on FRP Advisory Group Plc (FRP – Research Report), with a price target of p190.00.
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Sam Dindol has given his Buy rating due to a combination of factors contributing to FRP Advisory Group Plc’s strong performance and future potential. The company has reported that its trading across all five of its service pillars is currently surpassing the Board’s expectations, with a robust pipeline and activity levels. This confidence is backed by the anticipation of delivering results for the year ending April 2025 that exceed current market expectations, particularly with an expected 8% rise in adjusted EBITDA.
Furthermore, FRP maintains a strong balance sheet, which supports additional acquisitions, having completed four deals in the first half of the current financial year. The declared interim dividend and the company’s attractive valuation, characterized by a one-year forward P/E ratio of approximately 12, further enhance its investment appeal. With no major insider share sales expected in the near term, Dindol views the current market conditions as an opportune time to invest in the company.