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Meggitt, the supplier of components to the airline industry gets cleared for takeoff by Tempus in the Times. With both Airbus and Boeing having strong forward order books (especially Airbus), Meggitt is doing very well from the uplift in civil aviation. With a services firm mitigating some risk in case orders slow and trading at just 11.5 times 2012 earnings Tempus pulls open the throttle and says: buy.
UBS has upgraded aerospace, defence and energy market engineer Meggitt from sell to neutral on the back of improving foreign exchange movements and a nascent business jet recovery in North America. The earnings per share forecast for 2012 is raised by 2.4% and for 2013 by 4.5%, translating to a higher target price of 365p (from 330p previously).
Think you have your 3 and 4 mixed up !!!! 430p all day long !!!!!!
UBS has downgraded Meggitt from neutral to sell after cutting back its earnings forecasts for this year and the next. "Meggitt has also outperformed the European aftermarket stocks by 12% over the last three months and is within 7% of its all time high. Meggitt is on the UBS M&A watch list," the broker said. The target price was cut from 340p to 330p.
UBS downgrades Meggitt from buy to neutral, target price cut from 435p to 340p.
Ronald Vadas, President of Meggitt Training Systems commented: "This contract award reflects ten years supporting the ADF's training vision with innovative training and simulation systems. They will continue to be backed up by our highly experienced trainers-mostly ex-service personnel-who know how to maximise the skills, knowledge and behaviours needed for success on the modern battlefield."
Multi-million dollar operations and maintenance contract for virtual training Meggitt, a leading international company specialising in components and sub-systems for aerospace, defence and energy markets announces that Meggitt Training Systems has won an AUD$29M (USD$30.8M) contract with the Australian Defence Force (ADF) to operate and maintain the primary small and supporting arms simulation training centres known as WTSS (Weapon Training Simulation System) facilities. Created to train soldiers, sailors and airmen in the rules of engagement, judgment, marksmanship and indirect fire, the WTSS programme, which includes Indirect Fire Forward Air Control (I-FACT™) and Indirect Fire Training (IFT) systems, is provided exclusively by Meggitt Training Systems. It builds on a decade of supply to the ADF of systems, weapons, software, courseware, systems operation, maintenance and site management. Overall, Meggitt has a significant profile in Australia, with an estimated 90% share of the market in dismounted virtual weapons training. The operations and maintenance contract, running from July 2011 to June 2016, follows an original award in 1999. Coordinated from Meggitt's facility in Albury, New South Wales, Meggitt Training Systems will provide operations and maintenance for 18 sites located at major troop locations in every state and territory throughout Australia. The contract will be supported by around 70 Meggitt personnel.
Meggitt bladders fuel profit hopes Date: Thursday 21 Jul 2011 LONDON (ShareCast) - Meggitt, the FTSE 250 extreme engineering firm, has won an order to supply blast resistant fuel bladders to BAE Systems. The bladders will be used in the Bradley fighting vehicle, which transports troops but can also provide covering fire. The bladders will prevent fuel fires even when the vehicle comes under intense attack. The technology used is effective with metal fragments resulting from the detonation of an improvised explosive device (IED). IEDs have been the bane of US and UK forces fighting in Iraq and Afghanistan. The initial contract, worth $12 million, covers only a fraction of the 4,600 BAE Systems Bradley fighting vehicles in service but the firm claims further contracts are anticipated as the rest of the fleet is upgraded. The Chief Executive of Meggitt, Terry Twigger commented: "This first ground vehicle contract for leak-proof, life-saving fuel containment products evidences real success in our strategy to expanding beyond aerospace." BS
http://www.investegate.co.uk/Article.aspx?id=201107210700097603K
http://www.investegate.co.uk/Article.aspx?id=201107180700075099K
Aeroplane parts supplier Meggitt (MGGT) posted widened pre-tax profits for the full-year ended 31st December 2010, boosted by strong growth at its civil aerospace and energy units, and said it expects to see further growth in 2011. The company, which supplies products such as flight displays and wheels to plane-makers Airbus and Boeing, reported a pre-tax profit of 256.1 million pounds, up from 234.2 million pounds a year earlier, on revenue 1% greater at 1.16 billion pounds. In light of this, the group recommended a 9% increase in full-year dividend to 9.2p. Shares in Meggitt gained 14p to 352.2p.
Been here since £2.86, the chart looks beautiful, it's very rare to see an uptrend just go in a straight (diagnol) line.
My Broker has put until this share. Watch with interest
This company is only going one way ! Up!!!
Results are out on the 2nd - is 3.10 + realistic?
No idea why this share doesnt get more interest - its a belter. glad I didnt sell at my 2.25 target!
My second purchase of the day with a target of 2.25. very solid financials and I expect a 5% increase in the run up to the divi IMHO. GLA
I think there will be range trading in this stock. The civil market will be its weak link whilst global economy is struggling and the military activity is keeping it going and this will continue till 2011 it. Pat
I do not understand why this share is reducing. I worked for meggitt and know they have a captive market. They always achive profit.
I saw these in a little column in Moneyweek. I was so impressed with what they DO when I went to their website that I couldn't get a few quick enough at 137p. Today I see them at 152p and I am glad I got in. I think they are still reasonable to buy -that is for long term -if you look at their website you will undersytand how I feel about this company in present times. However I noticed their earnings trough might be in 2010 -good organic growth from 2011 -its a divi payer -quite a decent payer better than the likes of Quinitech !! Pat
The share price does not reflect the strong growth and future expectation of the company order books are full and in line with the most stocks of this nature.