EQS-News: Edison Investment Research Limited / Key word(s): Research Update/Results Forecast
31-Aug-2017 / 14:37 GMT/BST
London, UK, 31 August 2017
Edison issues outlook on John Laing Group (JLG)
John Laing Group (JLG) has an established and impressive track record of growth and is well paced to benefit from the strong market that exists for global infrastructure and renewable energy investment. We believe it can deliver a CAGR of 11.1% in NAV per share and 5.2% in DPS in 2016-21e. The combination of NAV per share and DPS growth should continue to provide attractive returns for shareholders and further close the valuation gap to its peers.
Over the last year JLG has successfully closed the significant discount to NAV that existed previously. The company now trades at a small premium to its last reported NAV (284p/share), but at a discount to other infrastructure investment groups, which trade at a c 14% premium to NAV currently. We believe that our forecasts for NAV and DPS growth will provide attractive total returns for shareholders and help close the valuation gap to its peers.
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