MARKET TALK: Aggreko Update Positive - Panmure

8th Jun 2010 10:27

0927 GMT [Dow Jones] Aggreko's (AGK.LN) update is positive, with current trading materially better than anticipated, says Panmure Gordon. 2H looks incredibly positive, with a number of new projects to come on stream and rate improvements seen in the last few weeks to further improve activity, says Panmure. Adds: "With longer term energy requirements unlikely to dampen given the background for infrastructure spending patterns and the likelihood for U.S. storm revenue to be a positive given last year's inactivity, we believe Aggreko remains a high quality situation." Keeps at hold with 1212p price target. Shares +3.1% at 1396p. ([email protected]) Contact us in London. +44-20-7842-9464 [email protected] (END) Dow Jones Newswires June 08, 2010 05:27 ET (09:27 GMT)