Aveva Share Price (AVV)

Aveva: Jefferies takes price target from 2300p to 2560p, while its buy recommendation remains unchanged. Seymour Pierce increases target price from 1780p to 1940p, but still recommends selling. JP Morgan ups target price from 1600p to 2300p and retains a neutral rating.

Challenges in BrazilDelays in project awards and local resource constraints in Brazil had a negative impact on the group's growth in the Americas, although no significant shift was seen in regional trends.

Strong cash generation was recorded in the third quarter of the year for FTSE-250-listed engineering data provider Aveva, according to an interim management statement issued by the group on Monday morning. The group, which didn't quantify its performance with numbers, stated that "good progress" had been seen during the period in the engineering and design systems division, underpinned by continued strength in oil and gas. In the group's power division, "steady growth" was reported while the marine division remained "depressed". The group added that Aveva Everything 3D had become commercially available and that the group was seeing "good levels of interest".

Aveva Group: Merchant Securities downgrades from hold to sell, while its target price of 1980p remains unchanged. Investec raises target price from 2200p to 2450p and still recommends to buy.

Engineering design provider Aveva Group has acquired the assets of US-based Global Majic Software for an undisclosed consideration. The acquisition brings simulation products that complement Aveva's existing visualisation technology by providing an immersive environment enabling virtual access to plant facilities. The acquired products enable life-like virtual walk-through of the digital plant enabling Plant Operators to conduct inspection planning, plant familiarisation, maintenance reviews and training while minimising the need to expose staff to hazardous on-site working. The acquisition additionally brings a small team of simulation specialists to Aveva who develop, distribute and support the Global Majic products. They will become part of Aveva's simulation development team.

Aveva: Seymour Pierce initiates with a target price of 1780p and a sell recommendation.