Canaccord says ProCook valuation does not reflect growth opportunities

procook dl uk ipo kitchen cooking — Founded over 25 years ago, ProCook aims to grow to 70 stores in the coming yearsProcook

ProCook Group

40.00p

14:54 09/01/25

-5.88%

-2.50p

Analysts at Canaccord Genuity reiterated their 'buy' recommendation for shares of ProCook.

Household Goods & Home Construction

10,052.41

16:44 09/01/25

0.36%

35.86

The kitchenware specialist had made additional "strong" financial and strategic progress over the peak trading period of its third fiscal quarter.

Yet with management having said that trading had been in line with its full-year expectations, Canaccord was left anticipating only "limited" changes to the consensus estimates for the company's FY25 sales and profit of £68m and £2.5m, respectively.

Nonetheless, in their opinion "the current valuation does not reflect the growth opportunities from further store expansion and LFL initiatives."

Their 48.0p target price was unchanged.