DiscoverIE Group PLC gets price target hiked by Peel Hunt

Broker Peel Hunt upgraded its forecasts and target selling price for discoverIE Team PLC () right after the company’s upbeat trading update.

Analysts now predicted adjusted profit right before tax of £29.6mln and earnings for each share of 24.5p, up eight{bcdc0d62f3e776dc94790ed5d1b431758068d4852e7f370e2bcf45b6c3b9404d} on their past forecast.

The broker’s target selling price was hiked to 835p from 775p and it reiterated its ‘buy’ recommendation.

With the purchase ebook strength working into subsequent year with very good top quality, extended-phrase orders and a a bit reduce than predicted desire cost, profit forecasts for the subsequent economic year had been also lifted eight{bcdc0d62f3e776dc94790ed5d1b431758068d4852e7f370e2bcf45b6c3b9404d} to £32.3mln.

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