From a fundamental viewpoint, the company seems undervalued relatively to its peers with a EV/Sales of 0.89, and a P/E ratio of 12.35x.
Moreover, net and gross margin are expected to increase in a 2018 horizon.
Analysts who's covering the stock have an average target price of GBp 212, which give a 27% theoretical potential on current prices.

Technically, in daily data, even if moving averages are still in a downtrend, a positive reaction in the GBp 162.7 area should stop this trend and allow a technical rebound towards GBp 176. Moreover, technical indicators show a significant oversold condition which strengthens this bullish scenario.

So, as to make the most of a potential technical rebound on Premier Farnell, it seems opportune to open a long position at the current price. A confirmation of this pattern would enable the security to reach the GBp 189.2 resistance, with a first target at GBp 176. Investors should not insist under GBp 162.7 and are better of placing a stop loss order under this threshold.