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Broker tips: Asos, Cobham, Inmarsat

Mon, 20th Jun 2016 15:09

(ShareCast News) - RBC Capital Markets reiterated its 'outperform' stance and 4,500p price target on online fashion retailer ASOS, saying the recent share price weakness was a buying opportunity.The broker noted the shares have dropped more than 10% over the last month, most likely on concerns over Amazon's push into fashion and uncertainty ahead of the EU referendum."We think the Amazon threat is overstated and believe that ASOS's trading remains strong, particularly in the UK where we expect further market share gains," RBC said.In addition, it said the market underestimates the growth opportunity in the US where proposition enhancements are already visible. It expects underlying US revenue growth to accelerate next year as recent improvements made to the US customer proposition begin to yield top-line upside.Aerospace and defence group Cobham got a boost on Monday as Bank of America-Merrill Lynch upgraded the stock to ' buy' from 'neutral' noting the balance sheet was reset and the valuation is attractive for a defence asset.BofA ML pointed out that Cobham has completed a rights issue of around £500m, bringing the leverage to a much healthier 1.9x net debt EBITDA by year end FY16, putting the bank's previous concerns about leverage to rest.It argued that commercial growth remains a concern but said Cobham has a well-positioned defence portfolio, and it expects modest organic improvements in both the US and non US defence exposures. Citigroup upgraded Inmarsat to 'buy' from 'neutral' saying it was oversold and Brexit resistent, and lifted the price target to 900p from 880p due to the new GBP/USD exchange rate.The bank noted Inmarsat has fallen 34% in sterling over the last six months."We believe this is overdone and was partly, at least, due to the compounding of having its principal market (Maritime) going into a severe recession just as Inmarsat commenced its product migration to GlobalXpress (GX), coinciding with management deciding to advance the capex cycle for its next generation of satellites."
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24 Oct 2016 07:53

EXTRA: Second Profit Warning As Cobham's Troubles Continue Apace

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24 Oct 2016 07:33

LONDON MARKET OPEN: Petra Leads Midcap Gains; Cobham Falls On Warning

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24 Oct 2016 07:29

Cobham cuts profit guidance as satellite and wireless lag

(ShareCast News) - Softer conditions in the wireless and satellite communications (satcom) markets have led Cobham to issue a profit warning. Although management expects an improvement in the fourth quarter, it said the overall full year outcome was likely to be below its initial estimates and cut i

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24 Oct 2016 07:20

LONDON BRIEFING: easyJet And Petra Early Winners; RBS, Cobham Losers

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24 Oct 2016 06:15

Britain's Cobham downgrades profit forecast again

LONDON, Oct 24 (Reuters) - British aerospace and defence company Cobham downgraded its profit forecast for the second time this year after a continued weak performance in its communications unit. Cobham warned on Monday that its annual trading profit would now come in at between 255 million

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24 Oct 2016 06:12

TOP NEWS: Cobham Issues Profit Warning After Soft Third Quarter

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19 Oct 2016 15:07

UK Earnings, Trading Statements Calendar - Next 7 Days

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4 Oct 2016 15:36

Sector movers: Construction and aerospace lead advance

(ShareCast News) - Construction and industrial engineering stocks led the way higher, with shares in aerospace and defence close behind thanks to the favourable tailwind from the pound's depreciation. Activity in the UK construction sector bounced back in September, with Markit's purchasing manag

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29 Sep 2016 15:03

UK Dividends Calendar - Next 7 Days

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11 Sep 2016 15:45

Sunday newspaper round-up: Inflation, MPC, Tesco, Rolls-Royce, Morrisons

(ShareCast News) - At their meeting this week, the Bank of England's rate setters are expected to pause and take stock of the impact on the economy of its recent interest rate cut, while UK inflation is set to continue its modest rise figures are likely to show. While inflation is likely to be boost

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5 Sep 2016 15:25

Monday broker round-up

(ShareCast News) - BAE systems: Goldman Sachs reiterates buy with a target price of 671p. Morrison: Jefferies maintains buy with a 210p target. Compass Group: UBS keeps at neutral with a 1485p target. Rio Tinto: Macquarie reiterates outperform with a 2900p target. Cobham: Goldman Sachs keeps at n

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5 Sep 2016 15:21

Sector movers: Big Oil, Industrial Metals pace gains on heels of G-20

(ShareCast News) - Big Oil again lent its heft to the market´s advance after Russia and Saudi Arabia unveiled an agreement to collaborate in the energy space. In a statement issued at the Group of 20 meeting in Hangzhou,China the oil producers said they would set up a working group to monitor the ma

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17 Aug 2016 16:16

Britain's FTSE dragged down by drop in Admiral

* FTSE 100 ends down 0.5 percent * Admiral falls as Brexit vote affects solvency ratio * Indivior climbs after clinical trial result * Laird boss to join Cobham, shares diverge (Updates prices at close, adds detail) By Kit Rees and Alistair Smout LONDON, Aug 17 (Re

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17 Aug 2016 11:02

LONDON MARKET MIDDAY: Pound Spikes As UK Jobless Claims Dips In July

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17 Aug 2016 09:29

WINNERS & LOSERS SUMMARY: Solvency II Ratio Concerns Sink Admiral

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