Redhall Group (formerly Booth Industries) : niche markets turnaround play

Mud re Brewin visit,here they are upgrading by the look of things,:



The bit we can read:

Redhall is set to increase its turnover substantially over the current and next financial years and to further widen its margins. On notional 30% tax the shares are on a prospective 2007-8 P/E of c.16.5 (on 8.8p EPS fully diluted). We believe this is still attractive, bearing in mind that our forecasts take the lower end of the range Redhall believes can be achieved on margins, the high growth and visibility of the sectors served and the prospect of earnings-enhancing bolt-on acquisitions. We have based our target price on 20x 8.8p EPS.