Ashtead Group PLC

AHT: XLON (GBR)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	GBX 2,281.00	Rxcw	Rmwtwrwnm

Ashtead Lifts Revenue Guidance for Second Consecutive Quarter; Shares Appear Richly Valued

Matthew Donen

Dec 7, 2021

No-moat Ashtead Group raised revenue guidance for the second consecutive quarter following 15% revenue growth this quarter. Full-year revenue growth is expected to be between 17% and 20%, an increase of 4% from previously revised guidance. Strong growth requires additional investment into its fleet, which keeps free cash flow guidance unchanged. We maintain our GBX 40,000 fair value estimate and view shares as richly valued.

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