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EDISON INVESTMENT RESEARCH LIMITED Edison Investment Research Limited: Lookers (LOOK): Restoring reputation as the market EVolves

Directive transparence : information réglementée

30/07/2021 09:00

Edison Investment Research Limited
Edison Investment Research Limited: Lookers (LOOK): Restoring reputation as the market EVolves

30-Jul-2021 / 08:00 GMT/BST


 

London, UK, 30 July 2021

 

Lookers (LOOK): Restoring reputation as the market EVolves

Following a challenging 2019, the COVID-19 pandemic extended the task of restoring stakeholder confidence in Lookers, one of the UK's leading automotive retailers. With the legacy issues now largely dealt with, Lookers can address the challenges and opportunities presented by COVID-19 and the evolution of the UK car market as the adoption of electric vehicles (EVs) accelerates. The strong balance sheet supports continued investment in technology and brands and, with a leading market position, Lookers appears well placed to resume profitable growth from 2022.

 

UK car retailers are trading on a substantial P/E discount to the general retail sector of around 45% and Lookers FY22 P/E of 6.2x based on our estimates is at the low end of its peer group. Assuming it successfully executes its strategy, restores the investment proposition and resumes dividend payments, there is clear potential.
 

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About Edison: Edison is a leading research and investor relations consultancy, connecting listed companies to the widest pool of global investors. By focusing on the volume and quality of investors reached - across institutions, family offices, wealth managers and retail investors - Edison can create and gauge intent to purchase, even in the darkest pools of capital, and then make introductions via non-deal roadshows, events or virtual meetings.

Having been the first in-market 17 years ago, Edison now has more than 100 analysts covering every economic sector. Headquartered in London, Edison also has offices in New York, Frankfurt, Amsterdam and Tel Aviv and a presence in Athens, Johannesburg and Sydney.

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Edison is not an adviser or broker-dealer and does not provide investment advice. Edison's reports are not solicitations to buy or sell any securities.

For more information, please contact Edison:

Andy Chambers +44 (0)20 3681 2525 industrials@edisongroup.com

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1222829  30-Jul-2021 

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