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(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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