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Our monthly Fire Best Buys Now are designed to highlight our team’s three favourite, most timely Buys from our growing list of growth-focused Fire recommendations, to help Fools build out their portfolios.
“Best Buys Now” Pick #1:
IMI (LSE:IMI)
- With 162 years of engineering heritage, IMI helps its customers solve difficult engineering challenges and directly impact everyday life.
- IMI has recently restructured its business, forming five market sector teams with a £23bn total address market.
- It continues to deliver industry-enviable returns on equity (ROE) and free cash flow conversion, yet it remains undervalued.
- The First Half of 2024 results showed strong performance, with revenue rising 5% organically and operating profit surging 19%.
- The board announced a 10% increase in its dividend and a £100 million share buyback, reconfirming its full-year adjusted earnings per share guidance (£1.2 to £1.26).