Jan 24th 2013 - Edison Investment Research today published a report on Tenon entitled "Joining The US Housing Recovery". In summary, the report says:
US housing market plays were some of the best-performing stocks in 2012 as industry data showed increasing activity levels and Tenon’s price has also started to recover. Enhanced operational gearing suggests rising sales should feed through to significantly improved profitability for the company as the cycle develops. Our valuation illustrations conservatively suggest 50%+ prospective share price upside.
Edison Investment Research is a leading international investment research company. It has won industry recognition, with awards both in the UK and internationally. The team of 95 includes over 60 analysts supported by a department of supervisory analysts, editors and assistants. Edison writes on more than 400 companies across every sector and works directly with corporates, fund managers, investment banks, brokers and other advisers. Edison’s research is read by institutional investors, alternative funds and wealth managers in more than 100 countries. Edison, founded in 2003, has offices in London, New York and Sydney and is authorised and regulated by the Financial Services Authority (www.fsa.gov.uk/register/firmBasicDetails.do?sid=181584). more »