Edison Issues Initiation on Nanoco Group (NANO)

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Once all partners are up and running (likely in 2019), it does not take aggressive assumptions for Nanoco's earnings to scale and the rating to look very inexpensive. As further support for our base case materialises, we would expect the shares to progressively rate upwards towards a mid-high teens forward P/E rating, suggesting a share price of 70p plus within 24 months.

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