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Jefferies upgrades Aggreko to 'hold', stays put on target price

Thu, 17th Nov 2016 08:35

(ShareCast News) - Jefferies upgraded Aggreko from 'underperform' to 'hold' but maintained its price target of 750p.The broker cut its earnings per share estimate for 2017 to 60.15p from 66.71p and for 2018 from 72.47p to 66.27p. The 2017 forecast was 3-5% lower than the consensus.The third quarter interim management statement (IMS) provided visibility over concerns surrounding the company's Argentina contract being re-tendered at lower rates and the 'difficult' collection of the venezuelan debt, Jefferies said.The broker's base case for Argentina called for a reduction from around £75m in earnings before interest tax and amortisation (EBITDA) to £20m and for a £20m write off for Venezuela, resulting in a £212m profit before tax for the full year in 2017.Jefferies also cautioned that "we still worry about an oversupplied market with flaccid demand, although helpfully we estimate that the key turnkey competitor, APR Energy, has utilisation of 60% potentially improving to 75%."Returns look to have been structurally impaired, but the 11-12% post tax return on invested capital (ROIC) is still reasonable and yields an enterprise value/invested capital (EV/IC) ratio of 1.5, analysts Will Kirkness and Kean Marden said in a report sent to clients.Aggreko's shares rose 1.05% to 773.50p.
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16 Nov 2016 07:29

Aggreko sees FY profits in line at £225m

(ShareCast News) - Portable power provider Aggreko said it expected 2016 full year results to be broadly in-line with current market expectations, with pre-exceptional profit before tax of around £225m Portable power provider Aggreko said it expected 2016 full year results to be broadly in-line with

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14 Nov 2016 10:38

Monday broker round-up

(ShareCast News) - Dairy Crest: JP Morgan keeps at neutral with a target price of 600p. Tesco: HSBC upgrades to buy with a 260p target. Inmarsat: Jefferies stays at buy with a 1245p target. Aggreko: Barlcays reiterates overweight with a 1000p target. SSE: Goldman Sachs keeps at neutral with a 160

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4 Nov 2016 13:25

Broker tips: Aggreko, Hikma, Croda

(ShareCast News) - Morgan Stanley upgraded power generator company Aggreko from 'underweight' to 'equal weight' and bumped up its target price from 850p to 900p, despite orders for diesel products falling. "We retain our concerns over long-term pressures on the International power Projects (IPP) bus

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20 Oct 2016 16:01

Broker tips: Aggreko, Homeserve

(ShareCast News) - Homeserve rallied as Barclays upped the stock to 'overweight' from 'underweight' and boosted the price target by a whopping 170% to 695p after visiting the company's UK and US operations in the last couple of months. Following the visits, the bank has reassessed its long-standing

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20 Oct 2016 08:50

Aggreko slides as Credit Suisse highlights competition risks

(ShareCast News) - Aggreko slumped on Thursday as Credit Suisse downgraded its stance on the temporary power provider to 'underperform' from 'neutral' and slashed the price target to 740p from 1,065p amid increasing competition risks. The bank said the downgrade reflects material cuts to its medium-

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4 Oct 2016 16:04

FTSE 250 movers: Exporters exce but OneSavings tops the list

(ShareCast News) - Boosted by another plunge in the pound that is expected to prop up exporters, the FTSE 250 was 1.66% higher late on Tuesday. Exporting companies that were high in the leaderboard included European-focused lender International Personal Finance, equipment rental group Aggreko, which

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23 Sep 2016 15:06

UK Dividends Calendar - Next 7 Days

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25 Aug 2016 15:05

UK Dividends Calendar - Next 7 Days

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9 Aug 2016 09:08

Aggreko swallows up US-based DRYCO

(ShareCast News) - Aggreko announced on Tuesday that it has entered into an agreement to acquire substantially all of the assets associated with, and used in connection with DRYCO - a specialist in moisture control, drying, heating, and cooling applications within the shipping, manufacturing, food p

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9 Aug 2016 06:55

Aggreko Snaps Up Assets Of Moisture Control Specialist DRYCO

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5 Aug 2016 08:31

BROKER RATINGS SUMMARY: S&P And Shore Upgrade Aviva After Strong Half

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3 Aug 2016 12:47

EXTRA: Aggreko Bruised By Continued North American Challenges

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3 Aug 2016 07:29

LONDON MARKET OPEN: Next, HSBC Lead Gainers Ahead Of UK Services PMI

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3 Aug 2016 07:22

Aggreko H1 profit and revenue hit by weak oil price

(ShareCast News) - Aggreko tumbled on Wednesday after the FTSE 250 temporary power provider posted a drop in first-half profit and revenue as weak oil prices took their toll on the company. For the six months to the end of June, pre-tax profit slid 31% to £61m on revenue of £685m, down 12% from the

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19 Jul 2016 12:59

Tuesday broker round-up

(ShareCast News) - Micro Focus: Barclays reiterates overweight with a target price of 2150p. Aggreko: HSBC maintains reduce with a 900p target. ARM: Citigroup reiterates neutral with a 1700p target. IAG: HSBC reiterates reduce with a 300p target. Pearson: Goldman Sachs reiterates sell with a targ

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