We initiate on Emeco with a BUY call and a $1.10 valuation. We anticipate steady earnings growth from margin expansion rather than growth capex. This should generate good free cash flow, allowing Emeco to consider broad capital management options rather than a narrower focus on debt reduction. We expect shareholders to be beneficiaries.
To access the full report please log in under the Client Area at the bottom of this page.
Argonaut’s Client Area allows you to view delayed share prices, access Argonaut’s wealth of Research as well as create custom portfolios and set up company watch lists.
If you would like to access our research please contact us to create an account.
