Edison Investment Research Limited: Edison issues outlook on Ultra Electronics (ULE)

Montag, 06.08.2018 15:20 von DGAP - Aufrufe: 65

Edison Investment Research Limited Edison Investment Research Limited: Edison issues outlook on Ultra Electronics (ULE) 06-Aug-2018 / 14:17 GMT/BST


London, UK, 6 August 2018

Edison issues outlook on Ultra Electronics (ULE)

The overall picture of improving global defence spending supports a return to organic growth for UItra. This is already reflected in the uplift seen in the order book at the H118 report. The company is well positioned to leverage the growth in naval budgets and increased demand for military aircraft around the world. Ultra also has a significant role to play in commercial aerospace, energy and cyber markets. Our fair value is 1,918p.

We calculate our estimated fair value of the company as a simple average of the discounted cash flow and sum-of-the-parts measures, currently 1,918p (previously 1,811p). Our valuations reflect the lower share count due to the £134m share buyback. The increase largely reflects improved global defence sector ratings on the back of increasing defence spend. At our fair value, Ultra's shares would be trading on an FY19 P/E of 16.7x. Click here to view the full report.

All reports published by Edison are available to download free of charge from its website www.edisoninvestmentresearch.com

About Edison: Edison is an investment research and advisory company, with offices in North America, Europe, the Middle East and AsiaPac. The heart of Edison is our world-renowned equity research platform and deep multi-sector expertise. At Edison Investment Research, our research is widely read by international investors, advisers and stakeholders. Edison Advisors leverages our core research platform to provide differentiated services including investor relations and strategic consulting.

Edison is authorised and regulated by the Financial Conduct Authority.

Edison is not an adviser or broker-dealer and does not provide investment advice. Edison's reports are not solicitations to buy or sell any securities.

For more information please contact Edison:

Andy Chambers, +44 (0)20 3077 5700 Annabel Hewson, +44 (0)20 3077 5700 Industrials@edisongroup.com Learn more at www.edisongroup.com and connect with Edison on: LinkedIn https://www.linkedin.com/company/edison-investment-research Twitter www.twitter.com/Edison_Inv_Res YouTube www.youtube.com/edisonitv


Dissemination of a CORPORATE NEWS, transmitted by EQS Group. The issuer is solely responsible for the content of this announcement.


End of Announcement - EQS News Service

711133  06-Aug-2018 

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