Monday broker round-up
6th Feb 2017 12:34
(ShareCast News) - Rio Tinto: Macquarie reiterates outperform with a target price of 4300p. Barclays: HSBC reiterates buy, 260p target. Restaurant Group: UBS reiterates neutral with a 310p target. Beazley: JP Morgan reiterates overweight with a 460p target. Inchcape: Deutsche Bank reiterates buy
Read morePetrofac wins Oman gas project
9th Jan 2017 07:21
(ShareCast News) - FTSE 250 oil and gas facility builder Petrofac has signed a contract worth about $600m with Salalah LPG SFZCO, a wholly-owned subsidiary of Oman Oil Facilities Development Company, to undertake the engineering, procurement and construction of its Salalah LPG extraction project in
Read moreCanaccord reiterates 'hold' rating on Petrofac
20th Dec 2016 09:36
(ShareCast News) - Canaccord Genuity on Tuesday reiterated a 'hold' rating on Petrofac but raised the target price to 900p from 850p. The broker said Petrofac has an "impressive record" from its initial public offering in 2007, showing resilience through the oil industry's 2008-09 crisis. Petrofac'
Read moreGoldman nudges 2017 Brent oil price forecast higher
16th Dec 2016 09:53
(ShareCast News) - Goldman Sachs reshuffled its oil price forecasts following the recent agreements reached by OPEC and non-OPEC producing nations to take 1.8m barrels a day off the market and forecast slightly higher prices would prevail next year. However, the same production cuts which would boos
Read morePetrofac's integrated energy services business expected to report a loss
15th Dec 2016 07:59
(ShareCast News) - Oilfield service provider Petrofac's integrated energy services (IES) business is anticipated to report a loss due to low oil and gas prices, while the company expects full year profit to be in line with expectations. Profit for the year ending 31 December is expected to be $410m
Read moreFTSE 250 movers: Oil stocks boosted by non-OPEC deal; BGEO loses flow
12th Dec 2016 15:35
(ShareCast News) - The FTSE 250 index fell 0.6% to 17,627.04 in the late afternoon. Oil prices rose as non-OPEC members including Russia agreed to cut production by 558,000 barrels per day, less than the 600,000 barrels a day they had been asked for but with Saudi Arabia signalling deeper cuts mi
Read moreFTSE 250 movers: Oil stocks gush ahead while Cranswick loses out
5th Dec 2016 15:30
(ShareCast News) - The FTSE 250 index rose 0.13% to 17,457.33 in the late afternoon. Oil prices continued their steady advance following OPEC's decision to cut its production by 1.2m barrels a day, propping up shares in Tullow Oil, Vedanta Resources (VR) and Petrofac on Monday. Goldman Sachs maintai
Read moreFTSE 250 movers: Oil services stocks bounce, Kaz knocked off high
15th Nov 2016 16:00
(ShareCast News) - The FTSE 250 index was on the up again on Tuesday, rising almost 0.5% to over 17,550 by mid-afternoon as oil-related stocks inflated on hopes of more oil price gains. Oil service companies Petrofac and Wood Group were among the top risers, with engineer Amec Foster Wheeler a
Read morePetrofac confirms appointment of Alastair Cochran as CFO
21st Oct 2016 11:34
(ShareCast News) - Petrofac confirmed the appointment of Alastair Cochran as chief financial officer and executive director, succeeding Tim Weller, with effect from Thursday 20 October. Cochran was most recently Transition Head of BG Global Strategy & Business Development, overseeing the integration
Read moreBroker tips: Wood Group, Petrofac, Ashmore, Debenhams
17th Oct 2016 12:35
(ShareCast News) - Raymond James initiated coverage of Wood Group at 'outperform' with a 900p price target. It said Wood was in the frontline to take advantage of the oil market recovery it expects. Raymond James said management has weathered the downturn well, preserving the strong balance sheet.
Read moreRaymond James initiates coverage of Petrofac, Wood Group
17th Oct 2016 09:32
(ShareCast News) - Raymond James initiated coverage of Wood Group at 'outperform' with a 900p price target. It said Wood was in the frontline to take advantage of the oil market recovery it expects. Raymond James said management has weathered the downturn well, preserving the strong balance sheet.
Read moreTuesday broker round-up
11th Oct 2016 14:54
(ShareCast News) - Easyjet: Deutsche Bank keeps at hold with a target price of 1000p. BP: HSBC reiterates buy, 570p target. Petrofac: Credit Suisse keeps at outperform with a 1100p target. British American Tobacco: Jefferies reiterates buy with a 6000p target. Royal Dutch Shell: HSBC keeps at bu
Read moreBroker tips: Petrofac, Bonmarche, ICAP
28th Sep 2016 14:15
(ShareCast News) - Petrofac got a boost on Wednesday as Goldman Sachs upgraded the stock to 'buy' from 'neutral' and lifted the price target to 1,066p from 912p. It said the upgrade was driven by Petrofac's geographic exposure, which is predominantly geared to the Middle East and by the current back
Read moreWednesday broker round-up
28th Sep 2016 12:15
(ShareCast News) - Close Brothers Group: Barclays reiterates overweight with a target price of 1500p. Royal Dutch Shell: HSBC keeps at buy, 2050p target. William Hill: Deutsche Bank keeps at buy with a 390p target. The Restaurant Group: Berenberg reiterates hold with a 350p target. Astrazeneca: D
Read morePetrofac boosted by Goldman upgrade to 'buy'
28th Sep 2016 09:11
(ShareCast News) - Petrofac got a boost on Wednesday as Goldman Sachs upgraded the stock to 'buy' from 'neutral' and lifted the price target to 1,066p from 912p. It said the upgrade was driven by Petrofac's geographic exposure, which is predominantly geared to the Middle East and by the current back
Read more