DXG [BUY +54.7%] - Excellent sales progress boosts confidence in business model transformation - Update
  • 2016-06-13T16:37:42
  • Company Research
We reiterate a BUY rating for DXG. The Q1 decline in brokerage does not reflect the full-year outlook, while the 2017 forecasted EPS decline hides the 32% forecast three-year EPS CAGR which will come as the company starts handover of its large portfolio of projects. This long-term growth is not reflected in the current valuation.