Johnson Matthey PLC

JMAT: XLON (GBR)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	£6,438.47	Rjyh	Yqxtf

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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