Mixed signals — flagged for pre-raise, but forward-looking tone is also improving across 3 corroborating channels. Tone trajectory is improving (ahead → → → materially_ahead); last update 2026-03-25. Macro backdrop: recovery.
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Mixed signals — flagged for pre-raise, but forward-looking tone is also improving across 3 corroborating channels. Tone trajectory is improving (ahead → → → materially_ahead); last update 2026-03-25. Macro backdrop: recovery.
| Signal / Date | Status | Detail | Indicator |
|---|---|---|---|
| Composite signals | |||
| Multi-channel | Improver flagged | Tone improving across multiple channels — flagged improver in AIM. 3 of 3 channels in agreement | tone 100.0 · broker 100.0 · director 2.2 · sector 19.6 |
| Tone trajectory | improving | Tone has been improving. most recent 2026-03-25 · 7 statements in last 180d | |
| Distress | Not flagged | Not flagged for distress. | |
| Pre-raise | Flagged | Active hype-language pattern — historically precedes equity raises (1.32× baseline). Hype-language density 0.6 per 1k words across recent disclosures. RNS cadence alone isn't a signal — buybacks and routine reporting can dominate; this measures language patterns, not announcement count. hype density 0.6/1k words (5 hits in 4 scannable docs)2026-01-20: "…ontinuation of the buyback. So, yeah, maybe not immediat…2026-01-20: "…regulatory headwinds. uh it really means the US has to w…2026-01-20: "…ncy that is effectively 100% for a number of weeks and i… | |
| Narrative drift | Stable | Narrative consistent with historical baseline. | |
| Broker actions — last 90 days (6) | |||
| 2026-05-13 | target_raise | INVESTEChold (buy) | 670p(was 485) |
| 2026-05-05 | target_raise | BERENBERGbuy | 700p(was 480) |
| 2026-04-27 | target_raise | JEFFERIESbuy | 670p(was 540) |
| 2026-04-22 | reiteration | Jefferiesbuy | GBX 540 |
| 2026-04-22 | reiteration | JefferiesBuy | 540p |
| 2026-03-26 | reiteration | Canaccord GenuityHold | 500p(was 445) |
| Director deals — last 90 days (1; 1 purchase) | |||
| 2026-03-20 | Purchase | Lord Rothschild44,049 shares | £110 |
| Backdrop | |||
| UK macro regime | recovery | UK cycle classification: recovery (77% confidence). | See macro indicators → |
Tone improving across multiple channels — flagged improver in AIM.
3 of 3 channels in agreement
Tone has been improving.
most recent 2026-03-25 · 7 statements in last 180d
Not flagged for distress.
Active hype-language pattern — historically precedes equity raises (1.32× baseline).
Hype-language density 0.6 per 1k words across recent disclosures. RNS cadence alone isn't a signal — buybacks and routine reporting can dominate; this measures language patterns, not announcement count.
Narrative consistent with historical baseline.
INVESTEChold (buy)
BERENBERGbuy
JEFFERIESbuy
Jefferiesbuy
JefferiesBuy
Canaccord GenuityHold
Lord Rothschild44,049 shares
Mixed signals — flagged for pre-raise, but forward-looking tone is also improving across 3 corroborating channels. Tone trajectory is improving (ahead → → → materially_ahead); last update 2026-03-25. Macro backdrop: recovery.
| Signal / Date | Status | Detail | Indicator |
|---|---|---|---|
| Composite signals | |||
| Multi-channel | Improver flagged | Tone improving across multiple channels — flagged improver in AIM. 3 of 3 channels in agreement | tone 100.0 · broker 100.0 · director 2.2 · sector 19.6 |
| Tone trajectory | improving | Tone has been improving. most recent 2026-03-25 · 7 statements in last 180d | |
| Distress | Not flagged | Not flagged for distress. | |
| Pre-raise | Flagged | Active hype-language pattern — historically precedes equity raises (1.32× baseline). Hype-language density 0.6 per 1k words across recent disclosures. RNS cadence alone isn't a signal — buybacks and routine reporting can dominate; this measures language patterns, not announcement count. hype density 0.6/1k words (5 hits in 4 scannable docs)2026-01-20: "…ontinuation of the buyback. So, yeah, maybe not immediat…2026-01-20: "…regulatory headwinds. uh it really means the US has to w…2026-01-20: "…ncy that is effectively 100% for a number of weeks and i… | |
| Narrative drift | Stable | Narrative consistent with historical baseline. | |
| Broker actions — last 90 days (6) | |||
| 2026-05-13 | target_raise | INVESTEChold (buy) | 670p(was 485) |
| 2026-05-05 | target_raise | BERENBERGbuy | 700p(was 480) |
| 2026-04-27 | target_raise | JEFFERIESbuy | 670p(was 540) |
| 2026-04-22 | reiteration | Jefferiesbuy | GBX 540 |
| 2026-04-22 | reiteration | JefferiesBuy | 540p |
| 2026-03-26 | reiteration | Canaccord GenuityHold | 500p(was 445) |
| Director deals — last 90 days (1; 1 purchase) | |||
| 2026-03-20 | Purchase | Lord Rothschild44,049 shares | £110 |
| Backdrop | |||
| UK macro regime | recovery | UK cycle classification: recovery (77% confidence). | See macro indicators → |
Tone improving across multiple channels — flagged improver in AIM.
3 of 3 channels in agreement
Tone has been improving.
most recent 2026-03-25 · 7 statements in last 180d
Not flagged for distress.
Active hype-language pattern — historically precedes equity raises (1.32× baseline).
Hype-language density 0.6 per 1k words across recent disclosures. RNS cadence alone isn't a signal — buybacks and routine reporting can dominate; this measures language patterns, not announcement count.
Narrative consistent with historical baseline.
INVESTEChold (buy)
BERENBERGbuy
JEFFERIESbuy
Jefferiesbuy
JefferiesBuy
Canaccord GenuityHold
Lord Rothschild44,049 shares