Edison Issues Initiation on Nanoco Group (NANO)

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May 11, 2017, 05:55 ET

LONDON, May 11, 2017 /PRNewswire/ --

We believe that factors are finally aligning to support adoption of Nanoco's quantum dots in the 250m+ unit per year TV and computer display markets. With a large addressable market and an operationally geared model, it does not take aggressive assumptions for earnings to scale and the rating to look very inexpensive. We believe a substantial re-rating upwards would be justified as support for our estimates builds.

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Once all partners are up and running (likely in 2019), it does not take aggressive assumptions for Nanoco's earnings to scale and the rating to look very inexpensive. As further support for our base case materialises, we would expect the shares to progressively rate upwards towards a mid-high teens forward P/E rating, suggesting a share price of 70p plus within 24 months.

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SOURCE Edison Investment Research