CIU.L Share News (CIU)

Evolution Securities has reiterated its add recommendation on industrials services provider Cape despite last week's trading update which sent shares plummeting.The stock dove 28% on Wednesday after the firm revealed a fixed-price contract loss and depot closure with a combined charge of £3.6m.Evolution has revised its 2012 earnings per share estimates from 54.5p to 45p, but while this increases the price-to-earnings ratio, the broker reassures by saying that this still "remains one of the cheapest (stocks) in the sector"."However, the shares may not perform until the market feels more confident that last week's statement was a one-off."A 550p target is maintained.By 15:50 on Monday, shares were up 1.9% at 354.5p.BC