Johnson Matthey PLC

JMAT: XLON (GBR)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	GBP 1,434.69	Ywltm	Dqq

Johnson Matthey Raises Guidance on Robust End Market Demand

Rob Hales

Jul 29, 2021

Narrow-moat Johnson Matthey raised fiscal 2022 guidance with its first-quarter trading update. The company now expects at least midteens growth in EBIT compared with low- to midteens growth previously. We’re currently forecasting 15% growth in EBIT so we don’t expect to make a material change to our forecast or GBX 3,400 fair value estimate. At current levels, the shares look slightly undervalued.

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