Investing.com -- Shares in Spectris (LON:SXS) Plc surged more than 10% in London trading Thursday after the company issued a trading update, highlighting that its full-year 2024 EBITA is expected to reach the top end of the consensus range.
Consensus EBITA is estimated at £197 million, with the upper range reaching £201 million, hence this indicates a potential beat of 1% to 2%.
“Evidently, this is a small beat, and possibly does not warrant a formal RNS announcement, but we recognize that FY24F was a tough year for Spectris, hence this is a nice end to the year and it puts any uncertainty to bed,” Jefferies analysts led by Andy Douglas commented.
The trading update did not include any guidance for the fiscal year 2025, but the update should be welcomed by investors, analysts note, especially those who have been concerned about Spectris’s near-term momentum.
Jefferies reiterated a Buy rating on Spectris stock.