NEW YORK, April 14, 2021 (GLOBE NEWSWIRE) -- Argus Research, an independent investment research firm, has launched Equity Research Report coverage on ASBISc Enterprises PLC (WSE: ASB)
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COMPANY HIGHLIGHTS: Excerpts (as conveyed by Argus Analyst Steve Silver) include:
ASB (WSE): A Leading Global Technology Product Distributor
ASBISc has grown revenues and earnings in recent years, and is well positioned for continued growth. The company has expanded its gross margin by more than 100 basis points over the past two years, supported by strong sales of private-label products, distribution efficiencies, and the increased use of e-commerce.
We believe that ASBISc warrants a valuation closer to the industry average. Applying a slightly below-peer-average multiple of 15 to 2020 EPS of 2.51, we arrive at a fair value estimate for ASB of approximately 39 PLN per share ($10), well above current prices near 17.20 PLN ($4.36).
INVESTMENT THESIS excerpts (Click Here to view full Argus Equity Research Report):
Although the pandemic caused widespread industry disruption in 2020, leading many businesses to close, ASBISc was able to meet customer needs for digital and remote connectivity technologies. We believe this is reflected in the company’s positive revenue growth in all four quarters of 2020, including the difficult second quarter, when revenue rose 2%. In our view, the subsequent 34% growth in 3Q and 30% growth in 4Q highlight the resiliency and underlying strength of ASBISc’s business.
About ASBISc Enterprises PLC (WSE: ASB) www.asbis.com
Founded in 1990, Cyprus-based ASBISc Enterprises PLC specializes in the distribution of computer hardware and software, mobile solutions, and other IT products and digital equipment. The company’s geographic focus is the former Soviet Union, Central and Eastern Europe, and the Middle East and Africa (EMEA).
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About Argus Research Corp. Headquartered in NYC, Argus Research (www.argusresearch.com) is a leading independent equity research firm (est. 1934) ̶ providing fundamental and quantitative research coverage on more than 1,600 companies across all 11 sectors of the S&P 500, as well as macroeconomic and equity market forecasts, thematic research, model portfolios and pre-IPO research. In addition, Argus has recently committed to providing a sponsored research solution for small & mid-cap companies seeking coverage. Argus’s Equity Research/earnings estimates are available on major research / earnings estimate aggregator platforms, including Bloomberg, Thomson Reuters, Factset and S&P Global.
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Argus Research Co. has received a flat fee from the company discussed in this report as part of a Sponsored Research agreement between Argus and the company. No part of Argus Research’s compensation is directly or indirectly related to the content of this assessment or to other opinions expressed in this report. Please refer to the full Argus report and the disclaimer for complete disclosures.