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CVS Group – “pleased to announce” sales growth, so why a further 10%+ share price slide?

By Steve Moore | Thursday 29 November 2018


Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.


A year ago I concluded on veterinary group CVS (CVSG), house broker N+1 Singer has trimmed forecasts and its latest numbers suggest a price/earnings multiple, with the shares currently at circa 1100p, of approaching 24x. Given the reported situation, that still looks high and this looks a sell. Today another AGM update – and the shares currently more than 10% lower on the back of it… at 650p…

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