Avast (AVST.L, FTSE 250, Market Capitalisation: Â£4435m, 440p, 2.5% of JIC Portfolio and 0.0% of JIC Top 10)
I have this morning reduced the Reward rating for Avast from High to Medium and have therefore reduced the holding to 2.5% of the JIC Portfolio.
Since acquiring the stock in May and August I am up 40% on my average in-price. When I bought it was on a PE ratio of 13.4x December 2019 earnings forecast falling to 2.4x 2020. Given the strong run, it is now valued at a more demanding 18.9x 2019 earnings, falling to 17.2x 2020.Â
I think it can make further progress from here, but I suspect not 20% over the next 12 months, hence my reducing the Reward from High to Medium.Â
I got 439.8p for my shares and booked a nice profit.