Numis ups price target on Informa

The blue chip said on Thursday that it had agreed to acquire Tarsus from Charterhouse Capital Partners, allowing it to further strengthen its portfolio of live and on-demand business-to-business events in Asia, China, the Middle East and the Americas. It also posted positive full-year figures, including a 43% jump in revenues.

In a note published afterwards, Numis - which has an ‘add’ recommendation on the stock - increased its target price to 800p from 750p.

It said: "[The] Tarsus acquisition looks sensible strategically, with some cost synergy plus mid-term event/revenue opportunities, given sector overlap, as well as via data. This is an asset we know well and we the business as tightly managed historically."

Numis concluded: "[We] remain positive on event fundamentals and strategic positioning, even with macro downturn, given post Covid-19 recovery tailwinds, new initiatives and China bounce-back."

As at 1030 GMT, shares in Informa were off 1% at 687.8p.