Tuesday broker round-up UPDATE
5th Aug 2014 11:02
Acal: FinnCap initiates with a target price of 322p and a buy recommendation. Afren: UBS reduces target price from 200p to 135p and stays with its buy recommendation. Aggreko: WH Ireland ups target price from 1800p to 1850p and stays with a buy recommendation. Alent: Numis increases target price
Read moreUltra Electronics wins US Navy contract
4th Aug 2014 10:25
Ultra Electronics on Monday said its joint venture with Sparton Corp., ERAPSCO, has been awarded a contract worth $166m for the manufacture of sonobuoys for the US Navy. Under the five-year contract, which has a ceiling value of $810m, sonobuoys will be produced at Sparton's DeLeon Springs, Florida
Read moreThursday broker round-up UPDATE
24th Jul 2014 08:59
Afren: JP Morgan shifts target price from 180p to 188p upgrading from underweight to overweight. Anglo American: Jefferies raises target price from 1550p to 1700p and reiterates a hold recommendation. Antofagasta: Jefferies increases target price from 825p to 1000p upgrading from hold to buy. ARM
Read moreUltra Electronics wins £9.9m contract
21st Jul 2014 13:18
Ultra Electronics has won a £9.9m contract for the provision of its sea sentor surface ship torpedo defence system to be used for New Zealand's ANZAX frigate systems upgrade (FSU) programme. Ultra's Sonar Systems business will deliver two sea sentor systems under the contract, which was signed on
Read moreSector movers: M&A, Farnborough lift aerospace and defence stocks
16th Jul 2014 14:47
M&A speculation and contract wins from the Farnborough Air Show were helping stocks in the aerospace and defence sector post solid gains on Wednesday. Aircraft components manufacturer and engineering group Meggitt was the standout performer in afternoon trade, up nearly 10% at 537p on the back of r
Read moreUltra Electronics wins extension on Litening Pods contract
3rd Jul 2014 09:27
The Communication & Integrated Systems business of Ultra Electronics has been awarded a contract extension for the in-service support of the UK Ministry of Defence's Litening Pods. The contract, which was originally agreed in 2006, is as a whole now worth a total of £80.4m. Rakesh Sharma, Chief
Read moreUltra Electronics scores deal for door system on A350 aircraft
27th Jun 2014 07:48
The Controls business of Ultra Electronics has landed a deal to design and supploy an electrical ground door opening system for the new A350 aircraft. The contract is expected to be worth more than £60m in total revenue to FTSE 250-listed Ultra. Chief Executive Rakesh Sharma said: "We are deligh
Read moreUltra Electronics bags $21m submarine systems contract
23rd Jun 2014 07:08
Defence services firm Ultra Electronics said its New York-based EMS Development Corporation business has secured a $21m multi-year contract to produce naval computer controlled power supply systems for General Dynamics Electric Boat. The contract is for the production of naval computer controlled p
Read moreSector movers: Rolls-Royce cash return lifts aero/defence stocks
19th Jun 2014 14:55
Aerospace and defence stocks were leading the risers on Thursday after engineering giant Rolls-Royce impressed investors with an unexpected £1bn cash return. Shares in Rolls jumped over 7% today after the firm pledged to buy back £1bn of shares if it succeeds in selling its energy gas turbine and c
Read moreBerenberg sees upbeat aerospace outlook, but Iraq unrest may weigh
17th Jun 2014 14:13
Defence firms are cashing in on more US budget certainty and civil aerospace prospects remain good, but Iraq unrest could throw the cat among the pigeons, broker Berenberg says. Civil aerospace and defence stock valuations have converged in the last year as defence headwinds have moderated and prof
Read moreTuesday broker round-up UPDATE
17th Jun 2014 09:45
Aquarius Platinum: UBS cuts target price from 41p to 24p and keeps a neutral rating. BAE Systems: Berenberg initiates with a target price of 455p and a hold recommendation. British Land: Deutsche Bank ups target price from 520p to 580p, but still recommends selling. Capital & Counties: Deutsche B
Read moreLondon pre-open: Iraq tensions to send FTSE lower early on
16th Jun 2014 07:40
The FTSE 100 looks set to start this week on the back foot as tensions in Iraq continued to escalate over the weekend. London's main index is predicted to open around 12 points lower, tracking losses in Asia overnight and extending its own losses seen on Friday, when it finished the week at 6,777.
Read moreUltra Electronics expands nuclear capacity with Lab Impex Systems
16th Jun 2014 07:18
FTSE 250-listed Ultra Electronics announced that it has acquired nuclear services firm Lab Impex Systems (LIS) for £3.2m in cash from private investors. Ultra Chief Executive Rakesh Sharma said: "This acquisition extends Ultra's capabilities in the nuclear sector and provides further momentum for o
Read moreUltra Electronics to supply nuclear reactor instrumentation to EDF Energy
12th Jun 2014 08:05
The Nuclear Control Systems business of FTSE 250-listed Ultra Electronics has scored a £12.9m contract from EDF Energy to manufacture and supply nuclear reactor instrumentation. Under the deal, Ultra will support the instrumentation, which will be used in EDF Energy's current UK nuclear power stati
Read moreTuesday broker round-up UPDATE
10th Jun 2014 09:45
ASOS: Goldman Sachs reduces target price from 6250p to 5750p, while upgrading to strong buy. Avon Rubber: Investec lowers target price from 690p to 680p and downgrades from buy to add. BAE Systems: Investec downgrades from add to hold with a target price of 430p. BG Group: Exane downgrades to neu
Read more