- Rightmove
- 17 December 2023 14:03:44
Source: Sharecast
Rightmove currently trades at just 560p, dropping from 800p just two years ago and 600p earlier this year. Nevertheless, the company is in "fine fettle", Tobin said, with last month's trading update confirming upbeat conditions.
The company said it was trading marginally ahead of expectations and is on track to almost double revenues from £333m in 2022 to £600m by 2028
After a recent recovery the shares are "no longer going cheap", Tobin said, trading at 20 times earnings.
However, macro trends are looking up with Tobin pointing to "property value inflation, a chronic shortage of housing, strong lettings demand and the improving interest rate environment" – which should all contribute to increased website traffic.
"OntheMarket is still a minnow and a US parent may not flourish in the quirky British housing market. Buy Rightmove," Tobin wrote.
Meanwhile, the Midas column at the Daily Mail has highlighted British sparkling wine producer Chapel Down as a "thirst-quenching long-term hold".
Demand for British sparkling wine has soared by 20% this year even as demand for Champagne, Italian prosecco and Spanish cava has dipped.
"Chapel Down shares have more than tripled over the past decade but there should be plenty more pop in the stock," writes Joanne Hart.
Hart said recent results are strong, with chief executive Andrew Carter signalling big ambitions to grow Chapel Down's current 38% UK market share. Meanwhile, the company's recent move from the Aquis Stock Exchange to AIM opens it up to a wider pool of investors, large and small.
"Carter is driven and blind tastings show that even the French savour English sparkling wine. Shareholders enjoy generous perks too, including a 33% discount on all purchases, ideal at this time of year," Hart said.
