TechMARK movers: Aveva upgraded by Citigroup

16th Nov 2009 15:38

Shares in Aveva have been boosted by Citigroup raising its target price from 920p to 990p a share. The broker says that the CAD software supplier's recent results showed that recurring revenues were resilient. Citigroup has also increased its earnings per share forecast for the current year from 40.4p to 48.9p a share. Citigroup has maintained its hold rating. Aveva has appointed Numis as joint broker alongside RBS Hoare Govett. Power control components supplier XP Power pleased the market with an upbeat trading statement. There is a positive trend in demand although this could be due to restocking. XP Power is on course to report higher underlying earnings per share than in 2008. New product introductions mean that XP Power should continue to grow. Production levels in China are building up. XP Power will release its 2009 figures in mid-February 2010. FTSE TechMARK - RisersKewill (KWL) 105.00p +6.06%Aveva Group (AVV) 1,013.00p +5.19%XP Power (XPP) 355.00p +5.19%Ark Therapeutics (AKT) 39.25p +4.67%RM Group (RM.) 153.00p +4.62%Skyepharma (SKP) 96.75p +4.59%Phoenix IT Group (PNX) 230.00p +3.60%Alterian (ALN) 210.00p +2.94%Parity Group (PTY) 17.00p +2.94%Torotrak (TRK) 28.50p +2.70%FTSE TechMARK - FallersGresham Computing (GHT) 24.50p -3.92%Oxford Biomedica (OXB) 12.75p -3.77%Sepura (SEPU) 38.50p -3.14%Visonic (VSC) 64.50p -3.10%Phytopharm (PYM) 17.25p -2.82%Biocompatibles International (BII) 245.00p -2.78%Antisoma (ASM) 31.00p -2.36%Sinclair Pharma (SPH) 32.00p -2.29%Fidessa (FDSA) 1,178.00p -2.24%Filtronic (FTC) 33.25p -2.21%