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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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5 Feb 2021 09:21

UPDATE 2-Best week in 3 months for UK mid-caps as Aggreko jumps on buyout offer

(For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window)* Aggreko tops mid-caps* Insurer Beazley up after reassuring on 2021 profitability* Retailer French Connection surges on takeover talks* FTSE...

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25 Jan 2021 09:37

BROKER RATINGS: Sage And Standard Chartered Both Receive Upgrades

BROKER RATINGS: Sage And Standard Chartered Both Receive Upgrades

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21 Jan 2021 09:38

LONDON BROKER RATINGS SUMMARY: Jefferies Says Hold BP And Buy Shell

LONDON BROKER RATINGS SUMMARY: Jefferies Says Hold BP And Buy Shell

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20 Jan 2021 10:48

Aggreko Anticipates 2020 Profit To Surpass Management Expectations

Aggreko Anticipates 2020 Profit To Surpass Management Expectations

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6 Jan 2021 09:40

UK BROKER RATINGS SUMMARY: Berenberg Raises Vodafone To Buy

UK BROKER RATINGS SUMMARY: Berenberg Raises Vodafone To Buy

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6 Jan 2021 08:54

Aggreko Amends Tokyo Olympics Supply Contract To Reflect Event Delay

Aggreko Amends Tokyo Olympics Supply Contract To Reflect Event Delay

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6 Jan 2021 08:17

Aggreko revises Tokyo Olympics contract to $315m

(Sharecast News) - Temporary power firm Aggreko said it had agreed an increased contract with the Tokyo Olympic and Paralympic Games organising committee to reflect the delay of the event to this year.

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19 Nov 2020 09:55

UK BROKER RATINGS SUMMARY: Liberum Upgrades easyJet, Davy Downgrades

UK BROKER RATINGS SUMMARY: Liberum Upgrades easyJet, Davy Downgrades

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18 Nov 2020 09:37

UK BROKER RATINGS SUMMARY: UBS And Goldman Both Cut Compass To Neutral

UK BROKER RATINGS SUMMARY: UBS And Goldman Both Cut Compass To Neutral

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17 Nov 2020 13:45

IN BRIEF: Aggreko Says Annual Profit To Be At Upper End Of Guidance

IN BRIEF: Aggreko Says Annual Profit To Be At Upper End Of Guidance

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17 Nov 2020 10:44

UK WINNERS & LOSERS SUMMARY: Intermediate Capital Up Amid Profit Jump

UK WINNERS & LOSERS SUMMARY: Intermediate Capital Up Amid Profit Jump

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17 Nov 2020 08:06

Aggreko FY profit seen at top end of guidance, sets 2021 guidance

(Sharecast News) - Aggreko said on Tuesday that full-year profit is expected to be at the upper end of its previous guidance following some recovery in most of its markets, as it set its profit guidance for 2021.

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10 Nov 2020 15:42

UK Earnings, Trading Statements Calendar - Next 7 Days

UK Earnings, Trading Statements Calendar - Next 7 Days

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2 Nov 2020 16:54

UK EXECUTIVE CHANGE SUMMARY: Kakuzi Acts To Prevent Human Rights Abuse

UK EXECUTIVE CHANGE SUMMARY: Kakuzi Acts To Prevent Human Rights Abuse

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29 Oct 2020 09:55

AstraZeneca Hires Google Executive Diana Layfield As Non-Exec Director

AstraZeneca Hires Google Executive Diana Layfield As Non-Exec Director

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