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Epic & Msn data
Epic SUS
Time: 16:35:41
Mid Price: 515.00
Change Today: 0.00
Change % Today: -0.00
Fifty Two Week High: 540.00
Fifty Two Week Low: 275.00
Market Capital: 60.45
Period & price data
Period Price
Now: 515.00
3 Months ago:
6 Months ago:
1 Year ago:
Additional information
Additional Information
Market: LSE
Sector: General Financial
Epic: SUS
News: Latest news
Web Site: S & U Plc
Other Articles: 09-02-201010-12-200909-12-2009

S & U Plc

S & U Plc is principally engaged in the activity of consumer credit and car finance throughout England, Wales and Scotland. The Company’s segment includes consumer credit, rentals and other retail trading, and car finance. S & U's wholly owned subsidiaries include S D Taylor Limited, which is engaged in consumer credit, rentals and other retail trading, and Advantage Finance Limited, which is engaged in car finance.

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Tuesday, February 09, 2010

Daniel Stewart and Charles Stanley reiterate 'buy' after S&U trading update

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Brokers Daniel Stewart and Charles Stanley followed up S&U’s (LSE: SUS) positive trading update this morning with reiterated 'buy' recommendations and respective price targets of 575p and 550, the latter raised from a previous 500p.

S&U shares climbed were up nearly 7 percent at midday, trading at around 480p on the LSE.

Earlier this morning in a statement ahead of FY results, the home credit and motor finance specialist said it is trading well and that results are expected to be in line with market expectations. In light of the company’s performance and the upcoming tax changes in April 2010, S&U has approved a second interim dividend of 15p and it intends to pay a final dividend of no less than 8p in June.

Daniel Stewart said the update provides them with comfort in their existing earnings forecasts. According to the analyst note from Daniel Stewart, S&U has shown its resilience during particularly difficult lending markets and the company stands to benefit from a significant reduction in market competition given the failure of former sector-rivals LSB and Cattles. The 575p target price would reflect earnings multiple of 9.8x, which would still reflect a 30% discount to sector peer Provident Financial (LSE: PFG), Daniel Stewart said.

Similarly Charles Stanley believes that S&U’s strong balance sheet, credit rationing and limited competition provide good medium term growth potential, as such it has increased the target price from 500p to 550p per share. Charles Stanley expects the company’s expansion will continue to be cautious in the near term.

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