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Aggreko powers ahead on Deutsche Bank upgrades

Thu, 15th Dec 2016 08:58

(ShareCast News) - Aggreko got a boost on Thursday as Deutsche Bank upped its stance on the temporary power provider to 'buy' from 'hold' and lifted the price target to 1,000p from 780p noting the company is approaching the end of four years of negative earnings momentum.The bank estimated that between 2012 and 2016, Aggreko's trading profit will have declined by almost 40%, mostly driven by the roll-off of certain one-off contracts, pricing pressure and a drag from oil and gas."While risks still remain for 2017E, mainly with the well flagged contract renewals in Argentina, we expect an inflection in earnings momentum in 2018E. We see upside with a return to earnings growth," DB said.It sees the company returning to earnings growth in 2018 thanks to improved oil and gas activity, the 1GW of order intake in Power Solutions year-to-date and a lower drag from contract re-pricing, resulting in some margin stability.Deutsche said its 2016 pre-tax profit forecast of £220m is in line with management's guidance of £225m and 2% ahead of Factset consensus of £123m.At 0905 GMT, the shares were up 2.8% to 901p.
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21 Aug 2018 11:55

LONDON MARKET MIDDAY: FTSE 100 Lags European Peers As BHP Weighs

LONDON (Alliance News) - Stocks in London were mixed at midday on Tuesday, with BHP Billiton weighing on the FTSE 100 as its interim results disappointed.However, boosting the FTSE a

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21 Aug 2018 10:44

WINNERS & LOSERS SUMMARY: Persimmon Leads Housebuilders Higher

LONDON (Alliance News) - The following stocks are the leading risers and fallers within the main London indices on Tuesday.----------FTSE 100 - up 1.3%. The housebuilder said it continued to

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21 Aug 2018 08:47

LONDON MARKET OPEN: FTSE 100 Gains Restricted By BHP Billiton

LONDON (Alliance News) - Stocks in London opened mixed on Tuesday with gains from housebuilders offset by a drop from BHP Billiton in the FTSE 100. The FTSE 100 index was down 0.1%,

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1 Aug 2018 17:35

European Markets Finish Mixed As Trade Concerns Resurface

BRUSSELS/FRANKFURT/PARIS (Alliance News) - The European markets ended Wednesday's session with mixed results. Trade concerns had a negative impact on investor sentiment, following that

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1 Aug 2018 17:21

LONDON MARKET CLOSE: Next And Mining Stocks Send FTSE 100 Lower

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1 Aug 2018 12:11

LONDON MARKET MIDDAY: Losses Accelerate As US-China Tariff Talk Weighs

LONDON (Alliance News) - Stocks in London were trading sharply lower midday Wednesday over talks of further US tariffs on China and a host of host of ill-received corporate updates.Meanwhile, pound a

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1 Aug 2018 08:54

Aggreko confident of hitting FY guidance after solid underlying first half

(Sharecast News) - Temporary power supplier Aggreko said first half pre-tax profits fell 7% to £59m, with revenues up 10% to £857m.

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25 Jul 2018 16:02

UK Earnings, Trading Statements Calendar - Next 7 Days

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11 Jun 2018 17:15

LONDON MARKET CLOSE: FTSE Higher As Markets Brace For Historic Summit

LONDON (Alliance News) - Stocks in London ended higher on Monday casting aside an acrimonious G7 summit, as investor focus turns to US President Donald Trump as he prepares to hold a historic meeting

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11 Jun 2018 11:03

WINNERS & LOSERS SUMMARY: Evraz Stands Tall With Fitch Rating Upgrade

LONDON (Alliance News) - The following stocks are the leading risers and fallers within the main London indices on Monday.----------FTSE 100 - up 6.5%. Fitch Ratings upgraded the Russian to a

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19 Apr 2018 16:10

UK Shareholder Meetings Calendar - Next 7 Days

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6 Mar 2018 10:38

WINNERS & LOSERS SUMMARY: Investors Lose Appetite For Just Eat

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6 Mar 2018 09:25

Aggreko Revenue Up But Profit Down On Argentinian Legacy Contracts

LONDON (Alliance News) - Aggreko PLC on Tuesday said that the repricing and off-hire of its utility contracts in Argentina "masks" the in across

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30 Jan 2017 08:56

Aggreko shares fall on Deutsche Bank downgrade

(ShareCast News) - Aggreko's shares fell on Monday after Deutsche Bank cut its recommendation on the stock to 'hold' from 'buy' and lowered the target price to 1,000p from 1,050p. The supplier of temporary power generation equipment is expected to see trading profit return to growth in 2018 after a

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16 Jan 2017 07:45

Aggreko Extends Argentina Contracts Up To March With Pricing In Line

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