Sector movers: Miners and oil service firms pace gains
19th Sep 2016 16:22
(ShareCast News) - Miners were pushed higher by rising prices for metals and positive comments from some top brokers. Contributing to the price action, analysts at Credit Suisse bumped up their 2017 price projections for thermal and coking coal, from $55 and $94 per tonne to $60 and $119, respective
Read moreCredit Suisse starts Petrofac and Wood Group at outperform
19th Sep 2016 12:57
(ShareCast News) - Markets were already looking ahead to European oilfield services companies emerging fitter and leaner from the worst downturn in exploration and production in over a generation, analysts at Credit Suisse said. "Unlike 2009, this downturn has been sufficiently long to spur behaviou
Read moreThursday broker round-up
15th Sep 2016 13:57
(ShareCast News) - Sanne Group: Berenberg reiterates buy with a target price of 600p. Vodafone: Barclays reiterates overweight, 260p target. Petrofac: Jefferies downgrades to hold with a 800p target. Anglo American: JP Morgan reiterates overweight with a 1150p target. RPC Group: Berenberg stays a
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 moreBroker tips: Restaurant Group, AB Foods, Petrofac
31st Aug 2016 10:48
(ShareCast News) - Restaurant Group shares fell on Wednesday as Citigroup downgraded its stance on the stock to 'sell' from 'neutral' and cut the price target to 320p from 350p. The bank said that while there may be valuation support on a sum-of-the-parts basis, the company still faces significant t
Read moreDeutsche Bank reiterates 'hold' on Petrofac
31st Aug 2016 09:58
(ShareCast News) - Deutsche Bank reiterated a 'hold' rating on Petrofac and raised its target price to 900p from 770p on Wednesday. The bank said the oil and gas services company is "slowly getting back on course but end market recovery remains elusive". Petrofac's end markets offer little evidence
Read morePetrofac swings to first half profit
30th Aug 2016 07:36
(ShareCast News) - Oil services company Petrofac said it made a $12m first half net profit compared with a $182m loss in the same period last year. Revenue rose to $3.9bn from $3.2bn, helped by record levels of activity and expected to deliver full year results in line with expectations with a net p
Read moreG4S poaches Petrofac CFO Tim Weller
15th Aug 2016 07:32
(ShareCast News) - FTSE 250 security firm G4S said on Monday that Tim Weller will succeed Himanshu Raja as chief financial officer after Raja retires from the board and steps down from the role on 1 October. Weller will join the company from oilfield services group Petrofac, where he held the same
Read moreAmec Foster Wheeler leads gains among oil equipment and service stocks
9th Aug 2016 19:10
(ShareCast News) - Oil equipment and services stocks saw another day of gains, with shares in Amec Foster Wheeler spearheading the advance in the wake of its latest interim figures. Amec reported higher sales and lower earnings in the first half of the year which were better than the market expected
Read moreNo evidence of misconduct with Unaoil, says Petrofac investigation
1st Aug 2016 08:19
(ShareCast News) - Petrofac reported on Monday that it has concluded the independent investigation commissioned by the board into allegations in the media related to the historical provision of services to the company by Unaoil, a Monaco-based company. The board of the FTSE 250 company said no evide
Read morePetrofac ends Petronas risk contract early; to incur small charge
11th Jul 2016 07:40
(ShareCast News) - Petrofac said it has reached agreement with its partners to end the Berantai risk service contract (RSC) in Malaysia, adding that it would incur a "small" impairment charge as a result. Petrofac said the receivable due under the contract at the end of 2015 was $357m. The company a
Read morePetrofac upgraded to 'buy' from 'hold' by Canaccord
5th Jul 2016 09:00
(ShareCast News) - Petrofac's stock was on Tuesday upgraded from 'hold' to 'buy' and its target price raised from 775p to 850p by Canaccord Genuity. Canaccord said with shares down more than 11% over the past three months against a 10% increase in the sector, the oilfield services company was a risk
Read moreWednesday broker round-up
29th Jun 2016 18:09
(ShareCast News) - Petrofac: Jefferies upgrades to buy with a target price of 835p and Societe Generale stays at buy with a target price of 921p. Thomas Cook: JP Morgan keeps at neutral with a 101p target. Standard Life: HSBC keeps at buy with a target price of 360p and Barclays reiterates equal-we
Read morePetrofac sees net profits in line with guidance
21st Jun 2016 07:41
(ShareCast News) - Oil and gas facility maker Petrofac said it expect to deliver net profit in 2016 in line with previous guidance of $445m. In a trading statement, the company said it expected net profit to be broadly evenly split between the first and second half of the year. The group's order
Read moreMonday broker round-up
11th Apr 2016 16:20
(ShareCast News) - Phoenix Group: JP Morgan downgrades to neutral with a target price of 942p. Fresnillo: RBC downgrades to underperform with a target price of 750. Jupiter Management: UBS reiterates neutral with a target price of 410p and Jefferies keeps at buy, 472p target. Petrofac: Nomura keep
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