discoverIE Group plc’s current share price softness offers a “good entry point” for the OEM components manufacturer, reckon Liberium analysts.
Liberum maintained a ‘buy’' rating on discoverIE stock with a 980p price target, noting that the London-listed group is “on track to meet FY24 underlying earnings expectations”.
“The continued strong level of design wins provides a good pipeline for organic revenue growth,” said analysts.
Furthermore, discoverIE’s “sound balance sheet enables margin-accretive acquisitions in highly fragmented end-markets”.
discoverIE reported a 3% organic growth in orders in the four months to the end of January compared to the same period a year earlier, with similar growth compared to the previous quarter.
Shares were swapping for 679p with a market capitalisation of £648 million as of Friday, 15 March.