In the Irish market, Merrion Capital is tipping IAWS as a buy for investors at €6.05. It says IAWS is on course to deliver earnings per share growth of at least 20 per cent a year to 2003 by rolling out its attractive Cuisine de France and Delice brands into new retail outlets in Ireland and Britain. Merrion says the company is now well positioned to extend its business into the US and continental European markets which offer enormous potential for growth. It has a stable traditional business and robust cash-flow, which puts the company in a position to finance its expansion from internal resources and to continue to deliver over 20 per cent growth annually.
Merrion, has set a 12-month target for IAWS shares of €7.90, which suggests a potential 32 per cent appreciation in value.
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