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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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1 Dec 2015 07:59

Aggreko non-exec director steps down

(ShareCast News) - Rebecca McDonald is set to retire as non-executive director of Aggreko, the temporary power and temperature control solutions provider said on Tuesday. In a short statement, the FTSE 250 group said McDonald will step down on 1 December, adding she opted to bring a three-year spell

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18 Nov 2015 13:21

Halma Appoints Aggreko Finance Chief Carole Cran To Board

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10 Nov 2015 09:49

BROKER RATINGS SUMMARY: Deutsche Cuts Morrisons To Sell, Tesco To Hold

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10 Nov 2015 09:28

Tuesday broker round-up

(ShareCast News) - Hochschild Mining: RBC Capital Markets upgrades to outperform, cuts target price to 85.00p. Drax Group: Deutsche downgrades to sell. Target price: 220.00p. Morrison Supermarkets: Deutsche downgrades to sell, cuts target price to 155.00p. Aggreko: Berenberg Bank upgrades to hold,

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9 Nov 2015 17:07

LONDON MARKET CLOSE: US Rate Hike Now "Highly Likely" In December

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9 Nov 2015 12:16

LONDON MARKET MIDDAY: Market Reconsiders December Rate Hike In US

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9 Nov 2015 11:50

London midday: FTSE little changed as investors digest US rate expectations

(ShareCast News) - Housebuilders were the standout losers on the FTSE 100 after after Friday´s much stronger-than-expected US jobs report for October stoked speculation of rising interest rates worldwide. At midday, the FTSE 100 was off by just 0.69 points or 0.01% to 6,353.11. The latest US non-fa

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9 Nov 2015 10:23

WINNERS & LOSERS SUMMARY: IHG Falls As It Quashes Merger Speculation

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9 Nov 2015 08:30

London open: Financials in the lead, homebuilders move lower

(ShareCast News) - Financials were leading gains on the Footsie early on Monday, with utilities and homebuilders again bearing the brunt of the selling pressure on the top flight index after Friday´s much stronger-than-expected US jobs report for October. The FTSE 100 was trading up by 0.33% to 6,37

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9 Nov 2015 07:39

Aggreko sticks to full year guidance despite tough backdrop

(ShareCast News) - Aggreko maintained its full year profit expectations despite a challenging market backdrop, as it reported a fall in third quarter sales. In a trading update for 1 July to 8 November, the temporary power provider said underlying revenue for the period was 7% behind last year, with

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9 Nov 2015 07:23

Aggreko Maintains Guidance As Tough Market Conditions Continue

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5 Nov 2015 16:53

REPEAT: Earnings, Trading Statements Calendar - Week Ahead

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28 Oct 2015 11:27

Aggreko appoints Nicolas Fournier as MD of Power Solutions

(ShareCast News) - Temporary power provider Aggreko announced the appointment of Nicolas Fournier as managing director of its Power Solutions division, with effect from 2 November. This announcement follows the reorganisation, announced on 22 June, to move from a regional structure to two separate b

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16 Oct 2015 08:00

Aggreko director steps down

(ShareCast News) - Debajit Das has stepped down from his role of director at Aggreko, the power and temperature control solutions provider confirmed on Friday. Das, who held the role of regional director for Asia Pacific, had originally indicated he would leave the company on 22 June this year, when

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5 Oct 2015 09:42

WINNERS & LOSERS SUMMARY: Xchanging Jumps 50% On Capita, Apollo Bids

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