Investment accounts
Adult accounts
Child accounts
Choosing Fidelity
Choosing Fidelity
Why invest with us Current offers Fees and charges Open an account Transfer investments
Financial advice & support
Fidelity’s Services
Fidelity’s Services
Financial advice Retirement Wealth Management Investor Centre (London) Bereavement
Guides
Guidance and tools
Shares
Share dealing
Choose your shares
Tools and information
Tools and information
Share prices and markets Chart and compare shares Stock market news Shareholder perks Stock plan guidance
Pensions & retirement
Pensions, tax & tools
Saving for retirement
Approaching / In retirement
Approaching / In retirement
Speak to a specialist Creating a retirement plan Taking tax-free cash Pension drawdown Annuities Investing in retirement Investment Pathways
Berenberg initiates coverage on Rosebank Industries at 'buy'
(Sharecast News) - Analysts at Berenberg intiated coverage on capital markets business Rosebank Industries with a 440p target price and a 'buy' rating on Tuesday, pointing to early progress in lifting margins at its Electrical Components International subsidiary its solid management team. Rosebank was founded by several key members from London-listed Melrose Industries to recreate its privatee quity-esque "buy, improve, sell" model, which hasl mostly provided returns of 2-3x investors' original equity investment.
The first Rosebank acquisition, Electrical Components International, was completed on 19 August and ECI management has already made initial pricing changes, moving adjusted underlying earnings margins to 15%, with a further 300bp of margin targeted through Rosebank directed restructuring action.
Berenberg also noted that management was reviewing further acquisitions, both complementary ECI bolt-ons and non-ECI-related and that it plans to move to the main market in the second quarter of 2026.
"We value Rosebank using an EV/EBITDA basis, using our FY27E adjusted EBITDA forecast and the average FY27E multiple of our international peer group. This results in a 12-month price target of 440p. We have sense-checked this against a PER-based method and also optically reflected on where Rosebank is on the roadmap to doubling shareholders' equity," said the German bank.
Reporting by Iain Gilbert at Sharecast.com
Share this article
Related Sharecast Articles
Important information: This information is not a personal recommendation for any particular investment. If you are unsure about the suitability of an investment you should speak to one of Fidelity’s advisers or an authorised financial adviser of your choice. When you are thinking about investing in shares, it’s generally a good idea to consider holding them alongside other investments in a diversified portfolio of assets. Past performance is not a reliable indicator of future returns.
Policies and important information
Accessibility | Conflicts of interest statement | Consumer Duty Target Market | Consumer Duty Value Assessment Statement | Cookie policy | Diversity, Equity & Inclusion | Diversity, Equity & Inclusion Reports | Doing Business with Fidelity | Investing in Fidelity funds | Legal information | Modern slavery | Mutual respect policy | Privacy statement | Remuneration policy | Staying secure | Statutory and Regulatory disclosures | Whistleblowing programme
Please remember that past performance is not necessarily a guide to future performance, the performance of investments is not guaranteed, and the value of your investments can go down as well as up, so you may get back less than you invest. When investments have particular tax features, these will depend on your personal circumstances and tax rules may change in the future. This website does not contain any personal recommendations for a particular course of action, service or product. You should regularly review your investment objectives and choices and, if you are unsure whether an investment is suitable for you, you should contact an authorised financial adviser. Before opening an account, please read the ‘Doing Business with Fidelity’ document which incorporates our client terms. Prior to investing into a fund, please read the relevant key information document or Product Summary document which contains important information about the fund.
This website is issued by Financial Administration Services Limited, which is authorised and regulated by the Financial Conduct Authority (FCA) (FCA Register number 122169) and registered in England and Wales under company number 1629709 whose registered address is Beech Gate, Millfield Lane, Lower Kingswood, Tadworth, Surrey, KT20 6RP.
