Secondary Recommendation

Carphone Warehouse - New broker price target: Â£5

June 2011

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

We've almost lost count of the number of times Carphone Warehouse (CPW) has guided analysts’ forecasts upwards since its de-merger (it's at least three times), with the latest update on 5 May stating full-year eps will now be 14.5p-15p. In Q4 CPW Europe saw like-for-like revenue down 1.7% against strong comparatives, while its joint venture, Virgin Mobile France, delivered 161,000 net customer additions (exceeding guidance of 50-100,000) taking total net additions for the year to over 200,000.However, the real swing factor was Best Buy Mobile US, where Q4 connections rose 25.9% to 1.8m. For the full-year connections grew 28.2% to 7.1m, while full year profits are expected towards top of guidance of £90m-£1 ...

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Dunelm - Trading beats analystsâ€™ hopes

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Carphone Warehouse (February 2014)

Carphone Warehouse - Acquisition triggers 40% eps upgrade (July 2013)

Carphone Warehouse - Smart phones drive surge in sales (March 2013)

Carphone Warehouse - "Momentum the best for three years" (January 2013)

Carphone Warehouse - Wireless World roll-out going well (August 2012)

Carphone Warehouse - 172p special dividend (March 2012)

Carphone Warehouse - Special dividend of c170p-a-share (December 2011)

Carphone Warehouse (September 2011)

Carphone Warehouse - Gain since tip: 104% (July 2011)

Carphone Warehouse - BBM connections grow 34% (March 2011)

Carphone Warehouse (December 2010)

Carphone Warehouse - Best Buy Mobile US going well (September 2010)

Carphone Warehouse - US mobile business driving strong eps growth (June 2010)

Carphone Warehouse - De-merger still on track (February 2010)

Carphone Warehouse - De-merger plans should stimulate re-rating (January 2010)

Carphone Warehouse (March 2008)

Carphone Warehouse - Best Buy acquires stake (November 2007)

Carphone Warehouse - shares hit new highs in falling market (September 2007)

Caphone Warehouse - Finally solving TalkTalk problems; eps to soar to 25.5p in â€˜09 (July 2007)

Carphone Warehouse (December 2006)

Carphone Warehouse - Massive triple play opportunity (July 2006)

Carphone Warehouse - Acquisitions push shares to new high (February 2006)

Carphone Warehouse - 'Triple play' opens up huge opportunity in BT's back yard (January 2006)

Carphone Warehouse - Cautious outlook (May 2005)

Carphone Warehouse - Dispels high street gloom (March 2005)

Carphone Warehouse - Beats forecasts again (November 2004)

Carphone Warehouse - Over 500,000 TalkTalk customers (September 2004)

Carphone Warehouse - 385,000 TalkTalk customers (July 2004)

Carphone Warehouse - 30% increase in connections (May 2004)

Carphone Warehouse - New residential fixed line business going great guns (December 2003)

With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

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