Merrill Lynch upgrades Spectris and Spirax, prefers Smiths Group
11th Jan 2017 11:40
(ShareCast News) - Engineering shares were boosted by a note from Bank of America Merill Lynch that upgraded Spectris and Spirax-Sarco Engineering but said Smiths Group was its preferred UK name in a sector where investors are looking to rotate towards cyclical stocks. While positive data indicators
Read moreSector movers: Industrial Engineers up despite tough end markets
1st Dec 2016 17:19
(ShareCast News) - Another day of solid gains for crude oil futures boosted the oil patch again. Close behind were Industrial Engineers, with shares in Rotork, IMI and Weir Group pacing gains. Commenting on the messages delivered by the three companies at the latest biannual Valveworld trade show i
Read moreSector movers: Investors catch their breath after sharp rotation towards cyclicals, ponder next move
11th Nov 2016 21:56
(ShareCast News) - Defensives and so-called 'bond proxies' took over from cyclicals such as aerospace and defence or industrial engineers following two days of gains for the latter after the unexpected election results Stateside. That had left some cyclicals technically 'overbought' while "defensive
Read moreWeak sterling gives IMI a boost
10th Nov 2016 08:49
(ShareCast News) - Specialist engineering company IMI issued its interim management statement on Thursday, for the period from 1 July to 30 September. The FTSE 250 firm said progress with its strategic initiatives was continuing and expectations for the year remained consistent with market estimates
Read moreCredit Suisse starts Weir, Rotork at 'outperform'
20th Sep 2016 11:02
(ShareCast News) - Credit Suisse initiated coverage of Rotork and Weir at 'outperform' as it took a look at the pan-European capital goods sector. The bank gave Rotork a 230p price target. "We see Rotork as a high-quality company and while we do not discount a recovery in end markets, we see continu
Read moreWednesday broker round-up
31st Aug 2016 16:34
(ShareCast News) - Halma: Jefferies reiterates buy with a target price of 1210p. G4S: UBS maintains buy with a 260p target. Bunzl: Barclays reiterates equal-weight with a 2450p target. Carclo: Finncap reiterates hold with a 150p target. Associated British Foods: Berenberg downgrades to hold with
Read moreTuesday share tips: IMI, Serco
5th Aug 2016 13:03
(ShareCast News) - IMI stands to prosper when recovery returns - following efforts by the company over the past few years - but that prospect now looks more distant, the Financial Times´s Lex column said. The industrial flow control specialist´s first half numbers suggested chief Mark Selway´s ob
Read moreIMI reports drop in first half profit amid challenging market conditions
29th Jul 2016 08:51
(ShareCast News) - Engineering firm IMI on Friday reported a 19% drop in pre-tax profit in the first half as revenue fell in a challenging market. Pre-tax profit on a reported basis came to £86m in the six months to 30 June 2016, down from £107m the same period a year ago as the manufacturing sector
Read moreFriday broker round-up
6th May 2016 14:34
(ShareCast News) - Man Group: Citigroup downgrades to sell with a 120p target. Royal Mail: Jefferies reiterates underperform with a 400p target. Easyjet: JP Morgan keeps at overweight with a 1900p target. IMI: Societe Generale reiterates hold with a target of 920p and JP Morgan stays at neutral wi
Read moreIMI sees stronger second half; FY in line with expectations
5th May 2016 10:30
(ShareCast News) - Industrial engineering firm IMI said its full year expectations remained unchanged, with an improved performance predicted for the second half. The company said based on year to date performance and current market conditions, organic revenues in the first half should show a simila
Read moreWednesday broker round-up
20th Apr 2016 15:54
(ShareCast News) - Zoopla: Exane BNP Paribas reiterates neutral with a target price of 270p and Canaccord upgrades to buy with a 330p target. Ashmore: Barclays stays at underweight with a 250p target, Societe Generale downgrades to hold with a target price of 295p and Exane BNP Paribas downgrades to
Read moreMorgan Stanley expects more capex cuts in Oil&Gas, downgrades Rotork
6th Apr 2016 13:41
(ShareCast News) - Cuts to capital expenditure budgets in the Oil&Gas space had only just begun and were beginning to filter through from the 'Upstream' segment into Mid and Downstream activities, Morgan Stanley said. There had been about $90bn of recent deferrals announced, the broker pointed out.
Read moreMonday broker round-up
29th Feb 2016 13:16
(ShareCast News) - IMI: JP Morgan reiterates overweight with a target price of 850p, Credit Suisse and Canaccord stays at underperform, Investec and HSBC keep at buy, 920p and 1000p target respectively, Exane BNP Paribas maintains neutral and Societe Generale reiterates hold. Jupiter Fund Management
Read moreIMI full year profit slumps amid tough trading
26th Feb 2016 12:41
(ShareCast News) - FTSE 250 engineering group reported a 34% slump in 2015 pre-tax profit as revenue declined amid tough trading conditions in many of its markets, as clients scaled back orders. For the year ended 31 December, pre-tax profit fell to £163m from £246m on revenue of £1.56bn, down 8% fr
Read moreFTSE 250 movers: IMI downgrade sees market dip into red
25th Jan 2016 15:11
(ShareCast News) - The FTSE 250 was flip-flopping between the black and the red on Monday, with the second-tier market relatively flat by mid-afternoon, down just 9.12 points (0.06%) to 16,118.87. IMI took the biggest hit after Credit Suisse downgraded the engineer from 'neutral' to 'underperform' a
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