Initiating Coverage of Victrex With Narrow Moat Rating and GBX 1,700 Fair Value Estimate. See Updated Analyst Note from 30 Dec 2016 - Morningstar Equity Research

Initiating Coverage of Victrex With Narrow Moat Rating and GBX 1,700 Fair Value Estimate. See Updated Analyst Note from 30 Dec 2016

Initiating Coverage of Victrex With Narrow Moat Rating and GBX 1,700 Fair Value Estimate. See Updated Analyst Note from 30 Dec 2016 - Morningstar Equity Research
Initiating Coverage of Victrex With Narrow Moat Rating and GBX 1,700 Fair Value Estimate. See Updated Analyst Note from 30 Dec 2016
Published Dec 30, 2016
23 pages — Published Dec 30, 2016
Price US$ 400.00  |  Buy this Report Now

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Brief Excerpt:

...We are initiating coverage of Victrex with a narrow moat rating and a fair value estimate of GBX 1,700. Our fair value estimate implies a price/earnings ratio of 16 times and an enterprise value/EBITDA ratio of 11 times, based on 2017 estimates. At current levels, the shares look moderately overvalued. U.K.-based Victrex is the creator of and dominant market leader in polyetheretherketone, or PEEK, a light-weight ultra-high-performance plastic used for the most demanding applications in transportation, oil and gas, and electronics. Victrex serves these industrial markets through its Victrex polymer solutions segment, which accounts for 80% of sales. The company has broadened applications of PEEK to healthcare, notably implantable spinal fusion cages. Healthcare sales are housed in the Invibio biomaterials solutions segment, which contributes the other 20% of sales. PEEK is at the very top of the performance spectrum for high- performance plastics, a specialized market segment in chemicals...

  
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Document ID
0P00007P1R_20161230_INST
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Institutional Company Report
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MLA:
Morningstar Equity Research. "Initiating Coverage of Victrex With Narrow Moat Rating and GBX 1,700 Fair Value Estimate. See Updated Analyst Note from 30 Dec 2016" Dec 30, 2016. Alacra Store. Sep 22, 2019. <http://www.alacrastore.com/storecontent/Morningstar-Equity-Research/Initiating-Coverage-of-Victrex-With-Narrow-Moat-Rating-and-GBX-1-700-Fair-Value-Estimate-See-Updated-Analyst-Note-from-30-Dec-2016-2064-135553>
  
APA:
Morningstar Equity Research. (2016). Initiating Coverage of Victrex With Narrow Moat Rating and GBX 1,700 Fair Value Estimate. See Updated Analyst Note from 30 Dec 2016 Dec 30, 2016. New York, NY: Alacra Store. Retrieved Sep 22, 2019 from <http://www.alacrastore.com/storecontent/Morningstar-Equity-Research/Initiating-Coverage-of-Victrex-With-Narrow-Moat-Rating-and-GBX-1-700-Fair-Value-Estimate-See-Updated-Analyst-Note-from-30-Dec-2016-2064-135553>
  
US$ 400.00
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