SHARES in industrial materials group Scapa are "totally undervalued" according to a stockbroker.
A report by Henry Cooke says that Blackburn-based Scapa's restructuring plan is going well and prospects are improving.
"Whilst recovery will not be immediate the stock is totally undervalued," the report by the Manchester stockbroker comments.
"The shares are worth buying to tuck away with the added spice of a potential takeover at more than 200p."
Shares in the group, which employs several hundred at its East Lancashire factories, have fallen from a high of 231p over the past year to 114p last week.
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