Jul 20th 2010 - Edison Investment Research today published a report on KCOM (KCOM.L, LSE:KCOM, LON:KCOM) entitled "Outlook Improving". In summary, the report says:
Despite consistent delivery on all fronts, KCOM has underperformed the UK market by over 10% during the past month. We do not feel this is justified. The company's 16 July trading statement and a recent meeting with senior management confirmed to us that group transformation remains on track while the foundations for future growth are also clearly being laid. A tax-adjusted fiscal 2011 P/E multiple of 7.2x also seems undemanding to us, supported by a healthy 4.5% dividend yield.
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