Equity Analysis /
United Kingdom

GB : AB Dynamics - Reassuring H1 update

    Alex O’Hanlon
    Alex O’Hanlon

    Analyst - Support Services

    Sanjay Vidyarthi
    Joe Brent
    26 March 2022
    Published byCGS-CIMB

    AB Dynamics has issued a reassuring H1 trading update. There are no numbers in the statement, but trading is in line with expectations, with healthy order intake across the business.  We make no changes to our FY22E forecasts. In light of the shares being down 39%, we think the market had been fearful of a warning and this update should therefore be taken positively. We see the current share price weakness as a buying opportunity. The longer-term growth prospects for AB Dynamics remain excellent. Maintain 2700p TP and Buy recommendation.