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Having advised buying Tristel shares at 60p (‘Clean up on superbugs’, 6 May 2014), they duly rose to my upgraded target price of 90p, but I strongly feel a return to 90p and beyond is on the cards if Tristel’s management team continues to deliver on its targeted growth profile. Analyst Keith Redpath at brokerage finnCap has a target price of 85p but views the “risk here to the upside”. Equity Development maintains a fair value target of 100p, and I am inclined to agree with them. Needless to say, I continue to rate Tristel’s shares a buy on a bid-offer spread of 78p to 80p, and have raised my own target price to 100p. If achieved, the cash adjusted PE ratio would still only be 15 for the financial year ending June 2017 based on Tristel delivering EPS of 5.8p and a cash pile of £5.94m, or the equivalent of 14.5p. Buy.
haha were you not paying attention?
I thought that at 70p lol
Trading update reads well, logging growth etc but £38m for £3m cash in the bank, pre tax profits of £2.5m? There are cheaper service stocks growing at similar rate with healthier balance sheets...
amazing sp performance...what's yr tp?
This one is starting to gain traction. 90P will be initial resistance but once that is breached we can head for 100p. Long and strong, just the way I like it. Nice buying pressure today as we head into the close.
The company has continued to deliver growth and I am a very happy holder. Pulling out of Russia and invading the US seems the way to go. I reckon we can hit triple digits very shortly at this rate. The IC will surely being doing an update and 95p could well be on the cards. Well done Paul and Liz!
TRISTEL, the infection and control focused company which is based on the edge of Newmarket and which I have visited in the past. Although I don’t hold here, I do keep a fairly regular eye on the company which has performed very well over the last couple of years. Releasing a Trading Update to the market this morning the positive trend continues as the company announced that it had traded ahead of its expectations in the first ten months of the current financial year and where it has raised the previous level of the adjusted pre-tax profit forecast. That news saw the shares 8p higher or 10.4%, closing at 85p each and which in turn, saw Broker FinnCap raise its target price to 90p. The Broker had previously pencilled in pre-tax profits of £2.3m, against Tristel’s guidance today of the numbers now coming in at no less than £2.5m. Growth in profit has been impressive representing a 38% improvement on the prior year and where the CEO Paul Swinney talked of sales momentum delivered over the last couple of years continuing along with good control over its cost base. There is only six weeks until Tristel’s year end, so FinnCap, while raising the target price today, will issue an in depth note in due course.
Well done the BOD... http://www.investegate.co.uk/tristel-plc--tstl-/rns/trading-update/201505210700108045N/
Tristel's share capital is only up 2.2 per cent in the past year and a number of the new shares issued are to non-directors including those under SAYE. Given the robust earnings growth I feel comfortable with the number of shares being issued, and which are not being sold by them. I also feel comfortable with the investment case and feel a much higher share price will be the end game here. A takeover of the company is a possibility too.
Looks like a delayed reaction to IC article. Nice to see this one recover after losing some sparkle. Let's see if 80p can be broken so we can move back up towards 90p again.
looking for more than an IC tip here
Article has had an impact so far..........
What date is that from Bazza? If it is today it should lead to some upward movement in the Sp.
Part of the reason for this discount may be the company's reliance on one main scientific area, and the risk posed if a new disinfectant technology supersedes Tristel's brands. However, recurring revenues of 96 per cent should help to calm any nerves about the resilience of the business model, as should the fact that Tristel sells to more than 40 countries. One potentially game-changing country Tristel does not sell to at the moment is the US, despite considerable interest in the company's products from clinicians across the pond. FDA approval of the company's products could come within two to three years, according to analysts at Equity Development, providing access to the largest healthcare market in the world along - with major potential for a re-rating of the shares. Management is understandably keen not to overplay the prospect of US expansion, although it remains a strategic priority, as does growth in Europe. In both cases, regulatory costs will eat into profits. But this is factored into the forecasts in our table and more than outweighed by the potential upside. Tristel's shares have done well since 2013 and there is serious momentum in the growth story. The price-to-earnings-growth (PEG) ratio of 0.8 is only half the sector average and, at below one, suggests earnings growth is being seriously undervalued. Buy.
Each year, a staggering 300,000 NHS patients pick up infections while being treated at hospitals in England. Part of the NHS response to this has been to recommend the disinfectant products of Aim-listed Tristel (TSTL), which are now supplied to around 700 public and private hospitals in the UK. The company's main technology is its patented chlorine dioxide formulation, a highly effective disinfectant that can kill C.difficile spores in 30 seconds. In addition to hospitals - which account for 86 per cent of turnover - Tristel's sprays, gels, foams, liquids and other products are used to clean surfaces and instruments in pharmaceutical clean rooms and veterinary practices. A skin-friendly product has also been developed and is being rolled out, pending some regulatory hurdles. Tristel floated in 2005 and now boasts real sales momentum. It has generated record revenues in each of the past four six-month trading periods, and in the final half of 2014 grew sales by 15 per cent to £7.4m, in line with a sales goal of £20m by 2016-17. In the UK, which accounts for two-thirds of revenues, the key to sales growth is improving ties to hospitals' infection control teams and targeting specialisations such as cardiology and ophthalmology, where adoption of Tristel's products is less widespread. Increased scale has helped widen net margins, which are forecast to increase by 150 basis points to 15 per cent in the financial year to the end of June. This is leading to rapid EPS growth, which should also support forecasts of dividend increases. The shares should reward investors with a 3.8 per cent yield next year. And it's not only the shares' yield that represents attractive value. Tristel's enterprise value is 12 times forecast operating profits, and 1.8 times this year's expected sales. Based on these valuation measures, Tristel is valued at a discount to the sector of a quarter and a third, respectively.
suggest weakness imv ...buy back c60p? (Even then not cheap on mid teens pe)
Simon has raised his target price from 90p to 100p together with a positive article following the results update yesterday.
Looks like Simon Thompson has wrote about TSTL today, can any subscribers copy and paste article?
Spoke too soon, posting was a little late. Strong buy recommended.
No update today, maybe tomorrow but more likely Monday now.
Expecting ST to cover this following the results, hopefully today in which case it will be published on-line at 12.
following an excellent presentation by Paul Swinney last night. Very good and open presentation with every question honestly answered. Challenging and ambitious targets set by the company. The big news that I thought was very well handled is that TSTL are going to apply to the FDA to enter America. I found it a bit strange that Paul has been pressed and with implied criticism before about entering the huge american market and now that it is announced the presentation attendees were imo slightly skeptical. I applaud the move.
Very good results that surpassed even my expectations. Nice dividend hike plus good cash in bank. Looks like a return of capital too after October. Hang onto your hats. These are gonna fly today!