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Liberum put out a note this morning on Research Tree: "Thin profitability defines Volex’s industry. Principal customers are leviathans. Competition is fierce. Global PC & laptop volumes have dwindled. Wireless technology is a headwind. However, FY16 EBIT has beaten February guidance by 60%, new management continue to fell costs and their credit facility has today been extended. A forward FCF yield of 16% and EV/EBIT of 5x, despite initiating with estimates 20% below guidance, warrants consideration."
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