Mar 19th 2013 - Edison Investment Research today published a report on Avesco (AVS.L, LSE:AVS, LON:AVS) entitled "Payout Finally In Sight". In summary, the report says:
Avesco finally looks set to receive its US$60m (£40m) payout from the Disney/Celador case within the next few months – earlier than we expected – and has reiterated that it intends to distribute the ‘majority’ of the net proceeds to shareholders. Meanwhile, the small Q1 loss announced last week was slightly better than our estimate and our full-year numbers are unchanged. With potentially 150p of the share price accounted for by the Disney proceeds, the P/E for the rest of the business is only 5.0 times (averaging FY13 and FY14 earnings) and the NAV of 149p per share is backed by high-quality rental assets.
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