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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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17 Aug 2016 08:28

UPDATE 2-Cobham CEO to be replaced by Laird boss by end of year

(Adds analyst comment, share price) LONDON, Aug 17 (Reuters) - Struggling British aerospace and defence company Cobham said on Wednesday that Chief Executive Bob Murphy would step down by the end of the year and be succeeded by David Lockwood, current boss of technology company Laird. Read more

17 Aug 2016 07:43

Cobham CEO to step down, to be replaced by Laird boss

(ShareCast News) - Aerospace and defence group Cobham said chief executive officer Bob Murphy will step down from his role by the end of 2016 to pursue other opportunities and will be succeeded by David Lockwood no later than 1 January 2017. Lockwood is currently CEO of FTSE 250 technology company L

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17 Aug 2016 06:15

Cobham CEO to be replaced by Laird boss by end of year

LONDON, Aug 17 (Reuters) - British aerospace and defence company Cobham said on Wednesday its chief executive Bob Murphy will step down by the end of the year and be succeeded by David Lockwood, the current boss of technology company Laird . Cobham said Murphy was leaving "to pursue other o

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17 Aug 2016 06:13

TOP NEWS: Cobham Replaces Chief Executive With Laird Boss

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16 Aug 2016 11:38

Tuesday broker round-up

(ShareCast News) - Investec: UBS reiterates buy with a target price of 550p. Hastings: Berenberg maintains buy with a 234p target. Auto Trader: Goldman Sachs reiterates buy with a 445p target. Smiths Group: HSBC stays at hold with a 1300p target. Rightmove: Goldman Sachs keeps at neutral with a t

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15 Aug 2016 10:25

Broker tips: Persimmon, Restaurant Group, Cobham

(ShareCast News) - UK housebuilding shares have fallen 25% since Britain voted to leave the European Union and the sector has priced in a 5% drop in house prices, J.P. Morgan Cazenove said on Monday "However, while we think it's prudent to assume that transaction numbers will fall during 2017 (altho

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15 Aug 2016 09:10

Barclays downgrades Cobham to 'equalweight'

(ShareCast News) - Barclays downgraded Cobham to 'equalweight' from 'overweight' saying it expects several unquantifiable bumps along the way in the next six months and sees cleaner yet equally compelling value to be had elsewhere in its coverage. The bank said that while the logic behind rebalancin

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15 Aug 2016 07:11

LONDON BRIEFING: William Hill Rejects Another Rank-888 Takeover Bid

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10 Aug 2016 11:00

Broker tips: Cobham, Worldpay, Rolls-Royce

(ShareCast News) - Exane BNP Paribas downgraded Cobham to 'underperform' from 'neutral' and cut the price target to 140p from 143p, highlighting lingering doubts following the company's first-half results last week. The bank said sales and trading profit in H1 were broadly in line with consensus. "

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10 Aug 2016 09:11

Exane downgrades Cobham after H1 results

(ShareCast News) - Exane BNP Paribas downgraded Cobham to 'underperform' from 'neutral' and cut the price target to 140p from 143p, highlighting lingering doubts following the company's first-half results last week. The bank said sales and trading profit in H1 were broadly in line with consensus. "

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10 Aug 2016 08:35

BROKER RATINGS SUMMARY: Panmure Raises RSA Insurance To Buy From Hold

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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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4 Aug 2016 09:57

UPDATE 1-Cobham seen facing battle to hit full-year targets

* H1 trading profit sinks 36 pct, as expected * Says on track to meet FY expectations * Counting on H2 to deliver 70 pct of annual trading profit * Shares fall as much as 9 pct (Adds CEO comments, analyst comments, share price) By Sarah Young LONDON, Aug 4 (Reuters

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4 Aug 2016 08:36

Cobham slumps as it swings to first-half loss

(ShareCast News) - Shares in Cobham tumbled on Thursday after the FTSE 250 aerospace and defence group said it swung to a loss in the first half and cut its interim dividend. For the six months to the end of June, the company posted a pre-tax loss of £38m from a profit of £4m the year before as reve

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4 Aug 2016 07:40

BUZZ-Cobham: H1 profit drop hurts stock

** Aerospace and defence company Cobham's shares down 7.6 pct, near the bottom of the Stoxx, after saying H1 trading profit fell ** Co says H1 trading profit fell 36 pct to 102 mln stg, reiterates FY outlook ** Worst day for shares since April, when co launched an emergency rights is

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