Source: Sharecast
Berenberg noted that James Fisher's FY25 results on 11 March included adjusted underlying earnings of £28.6m, 4% ahead of its expectations, with self-help measures taken over the last three three years starting to drive revenue and profit growth.
The German bank also said it expects further self-help benefits in FY26, especially supply chain improvements, and that this was giving management "increased confidence" in achieving its medium-term targets.
Berenberg, which has a 'buy' rating on the stock, said James Fisher's strategic progress had allowed it to reduce James Fisher's peer group discount from 25% to 15%, which led to the 175p bump to its share price.
"The shares continue to trade at a discount to historical averages as investors await the profit inflection. The discount related to high financial leverage has yet to fully unwind," added Berenberg.
Reporting by Iain Gilbert at Sharecast.com