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Canaccord Genuity nudges up target price on Marks Electrical
(Sharecast News) - Analysts at Canaccord Genuity nudged up their target price on Marks Electrical from 70.0p to 73.0p on Thursday after the group reported full-year revenues had grown. Marks posted FY revenue growth of 2.6% to £117.2m, with Canaccord noting that adjusted underlying earnings were also ahead of its estimates at £4.2m, and that net cash was better than expected at £8.8m, reflecting improvements to working capital.
"After a tough H2, Marks has exited FY25 in a far stronger operational position, while the top line has returned to growth in Q4, with a March revenue growth exit rate of +6.6%, stronger than our FY26 forecast with weaker comparatives through the year," said the Canadian bank.
However, Canaccord stated it was making no changes to its FY26-27 estimates, despite the beat and strong start to FY26.
"Post a year of investment and transition, we believe Marks Electrical is coming out the other side in a far stronger place to scale," said Canaccord, which also reiterated its 'buy' recommendation on the stock.
Reporting by Iain Gilbert at Sharecast.com
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