Meggitt rallies as JP Morgan upgrades stock to 'neutral'
9th Aug 2016 10:22
(ShareCast News) - Meggitt shares gained on Tuesday as JP Morgan upgraded the aerospace engineer to 'neutral' from 'underweight' and raised its target price to 445p from 395p. The upgrade came shortly after news that activist investor Elliott Capital Advisors bought a 5.2% stake in the business whic
Read moreMeggitt surges as Elliott Capital Advisors takes 5.2% stake
8th Aug 2016 11:56
(ShareCast News) - Meggitt surged on Monday as it emerged that activist investor Elliott Capital Advisors has taken a stake in the FTSE 250 defence and aerospace engineer. According to a regulatory filing, Elliott Capital has taken a 5.2% stake in Meggitt through contracts for difference. Last week
Read moreWednesday round-up
3rd Aug 2016 12:13
(ShareCast News) - Laird: UBS upgrades to buy with a target price of 350p. Direct Line Group: Deutsche Bank maintains buy with a 435p target. Associated British Foods: Exane BNP Paribas reiterates outperform with a 3300p target. Sky: Goldman Sachs reiterates buy with a target price of 1029p. Fres
Read moreMeggitt's H1 profit drops but interim divi lifted, guidance confirmed
2nd Aug 2016 07:18
(ShareCast News) - Defence and aerospace engineer Meggitt reported a drop in first-half pre-tax profit but lifted its interim dividend and confirmed its guidance for 2016. For the six months to the end of June, statutory pre-tax profit fell 60% to £46.6m as revenue slipped 2% to £882.9m. The company
Read moreTuesday preview: FTSE earnings in focus
1st Aug 2016 12:24
(ShareCast News) - With earnings season in full swing, corporate results on the FTSE 100 and 250 will dominate Tuesday's agenda. Meggitt reports its first half results with analysts expecting the aerospace engineer to reveal higher revenues. UBS forecasts a 10.8% increase in group revenue to £846m,
Read moreMeggitt wins $18m contract with Australian Defence Force
5th Jul 2016 07:31
(ShareCast News) - Aerospace and defence company Meggitt said it had won an $18m contract from the Australian Defence Force's to develop, manufacture and install 460 EF88 Steyr assault rifle simulators and 115 SL40 40mm simulated grenade launchers. Contract deliveries will take place at 18 locations
Read moreMeggitt wins $21m US contract for F16 actuator
23rd Jun 2016 07:05
(ShareCast News) - Meggitt said its safety systems unit has won a five-year indefinite-delivery/indefinite-quantity contract worth up to $21m for the two-place seat canopy actuator on the F16 fighter jet from the US Defense Logistics Agency. Some 550 dual seat F-16 aircraft are in line for canopy ac
Read moreRolls Royce may stand most to gain from weakness in pound, JP Morgan says
20th Jun 2016 10:38
(ShareCast News) - Rolls Royce might be the UK's aerospace&defence stock which stood the most to gain in the case of Brexit and the weakness in the pound which would ensue, according to analysts at JP Morgan. Unlike the rest of UK A&D stocks, the manufacturer had a large foreign exchange transaction
Read moreMeggitt completes $600m private placing
1st Jun 2016 07:44
(ShareCast News) - Aerospace engineer Meggitt said it had completed a private placement of $600m seven and 10 year senior notes with 23 US-based investors. The transaction has a weighted average maturity of 8.5 years, and an all-in funding cost of 3.46%. Funds will be received on 6 July 2016. Net p
Read moreMeggitt wins $35m Canadian defence contract
20th May 2016 07:22
(ShareCast News) - Aerospace component maker Meggitt said it has won a $35m contract for surface and aerial targets from Canadian Department of National Defence. The five year deal includes provisions for two option years. The majority of the targets will be manufactured at the company's facility in
Read morePanmure cuts Meggitt to 'sell'; expects more profit warnings
18th May 2016 12:10
(ShareCast News) - Panmure downgraded its stance on defence and aerospace engineer Meggitt to 'sell'' from 'hold' and cut its price target to 325p from 363p. It noted the shares have recovered 15% since the profit warning last October and management has boosted the rate of investment to counter the
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 moreFTSE 250 movers: Board expectations lift AVEVA, Meggitt
19th Apr 2016 14:07
(ShareCast News) - The FTSE 250 was keeping its head above water on Tuesday afternoon, as oil prices continued their recovery. Engineering data and design software provider AVEVA was among the top risers, after the firm indicated its results to 31 March were likely to be broadly in line with expecta
Read moreMeggitt reiterates full year revenue guidance
19th Apr 2016 07:36
(ShareCast News) - FTSE 250 defence and aerospace engineer Meggitt reiterated its full-year revenue guidance as it said first-quarter trading has been in line with expectations. The group reported organic revenue growth of 1%, excluding the effects of M&A and foreign exchange, which it said was cons
Read moreTuesday broker round-up
8th Mar 2016 14:42
(ShareCast News) - South32: HBSC upgrades to buy with a target price of 85p. Capital & Counties Properties: Exane BNP Paribas downgrades to underperform. 348P target. Admiral Group: Nomura upgrades to buy with a target price of 2325p. Millennium & Copthorne Hotels: Berenberg downgrades to sell wit
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