Meggitt is too cheap to ignore, says Barclays
3rd Nov 2015 12:21
(ShareCast News) - Aerospace and defence engineer Meggitt rallied after Barclays reiterated its 'overweight' rating on the shares, saying the stock was "too cheap to ignore". Meggitt's shares plunged last week after warning that full-year profits will miss its £369m forecast, due to fewer contracts
Read moreThursday broker round-up
29th Oct 2015 09:10
(ShareCast News) - Diageo: Credit Suisse upgrades to outperform, bumps up target price to 2100.00p. Meggitt: WH Ireland downgrades to reduce. Centrica: Citigroup upgrades to buy. Target price: 260.00p. Bae systems: Credit Suisse downgrades to neutral, cuts target price to 460.00p. Wpp: JP Morgan
Read moreThursday newspaper tips round-up: Meggitt, Next
29th Oct 2015 08:57
(ShareCast News) - Civil aerospace accounts for around half of Meggitt´s sales. So bulging order books at Airbus and Boeing - which are indicative of a buoyant long-term outlook for the sector - is good news. However, the after-sales market is volatile,as many old aircraft are being taken out of ser
Read moreLondon close: Stocks rally ahead of Fed's interest rate decision
28th Oct 2015 16:14
(ShareCast News) - The London stock market closed higher on Wednesday before the Federal Reserve's decision on interest rates. The FTSE ended up 72.53 points to 6,437.80. The Fed releases its policy decision at 1800 GMT and is expected to keep rates at 0.25% amid low inflation and concerns about th
Read moreBroker tips: Meggitt, Lloyds, Petra Diamonds
28th Oct 2015 13:32
(ShareCast News) - Meggitt was left reeling in the third quarter by a sharp decline in energy revenues, a worsening 'business-mix' and lower aftermarket sales for civilian and military spares, Investec said. That led the broker to place its recommendation and target price for the shares of the globa
Read moreFTSE 100 movers: Glaxo jumps on results; Meggitt tumbles after profit warning
28th Oct 2015 13:10
(ShareCast News) - London's FTSE 100 index was up 0.8% to 6,415.65 at 1400 GMT as investors awaited the Federal Reserve's policy announcement, which is due after the European close. Pharmaceuticals giant GlaxoSmithKline was the standout gainer after its third-quarter revenue and core earnings per sh
Read moreRBC Capital Markets slashes Meggitt price target on profit warning
28th Oct 2015 12:56
(ShareCast News) - RBC Capital Markets slashed its price target on Meggitt to 420p from 580p following the company's profit warning. The bank, which kept its 'outperform' rating on the stock, noted that the warning was due to an abrupt slowdown in both the aerospace and defence after-markets and sai
Read moreMeggitt left reeling by extreme environment, Investec cautious
28th Oct 2015 12:46
(ShareCast News) - Meggitt was left reeling in the third quarter by a sharp decline in energy revenues, a worsening 'business-mix' and lower aftermarket sales for civilian and military spares, Investec said. That led the broker to place its recommendation and target price for the shares of the globa
Read moreMeggitt issues profit warning after aerospace and energy markets dip
28th Oct 2015 07:34
(ShareCast News) - Meggitt warned that full year profits will be well below forecasts after the aerospace and industrial components supplier endured softer trading during the third quarter, with a "marked deterioration" in its end markets in September. Operating profit for the year will be "meaningf
Read moreLondon pre-open: Investors to focus again on comments from central bankers
22nd Sep 2015 07:29
(ShareCast News) - Traders were expecting a slightly lower open despite the late gains seen on Wall Street overnight. The top flight index was being called to start the day two points lower from Monday's close of 6,108.71. The main US equity averages ended the session on the up as gains in financia
Read moreMeggitt buys composites division of EDAC for $340m
22nd Sep 2015 07:06
(ShareCast News) - Engineering group Meggitt has agreed to acquire the composites division of EDAC from Greenbriar Equity Group and other associated sellers for $340m, or £219m in cash. The business produces highly-engineered aerospace components for jet engine and airframe applications, with over 8
Read moreMeggitt wins $25m support contract
24th Aug 2015 07:20
(ShareCast News) - Aerospace, defence and engineering company Meggitt has been awarded a $25m contract to provide in-service support to the Canadian armed forces. The contract, which was awarded by Public Works Government Services Canada on behalf of the Department of National Defence is for three y
Read moreLondon pre-open: Markets expected to open lower as Asia falls again
24th Aug 2015 07:19
(ShareCast News) - City sources predict the FTSE 100 will open 217 points lower than Friday's close of 6,187.65. CMC Markets said expectations of easing from Chinese policymakers over the weekend were misplaced, despite massive falls in the markets last week. The continued sell-off in Asia, combine
Read moreMeggitt wins Pentagon fuel cells contract for Hornet jet
20th Aug 2015 07:45
(ShareCast News) - Aerospace engineer Meggitt has won a $39.8m contract from the US-based Defense Logistics Agency (DLA) to replace fuel cells in the legacy Hornet fighter jet, after soaring demand from the US Navy and in Spain, Finland and Switzerland. The three-year production contract, which ends
Read moreLondon pre-open: stocks tipped to open flat after Fed minutes
20th Aug 2015 07:16
(ShareCast News) - City sources predict the FTSE 100 will open two points higher than Wednesday's close of 6,403.45. European equities are set to open flat as traders wrestle to price in a dovish Federal Open Market Committee statement and further overnight declines in Asia, London Capital Group nig
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