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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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4 Aug 2016 06:14

Cobham H1 profit drops, on track to meet FY forecasts

LONDON, Aug 4 (Reuters) - British aerospace and defence company Cobham reported a plunge in first-half profit, as expected, after difficulties in its communications unit, and said it was on track to meet full-year expectations as earnings improve over the period. Cobham on Thursday posted t

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18 Jul 2016 07:00

RPT-AIRSHOW-UK aerospace puts brave face on Brexit

(Repeats JULY 15 story. No change to text.) * UK aerospace industry is No.2 in world behind U.S. * Brexit poses risks to investment, access to skills * But long production cycles, weaker pound help By Sarah Young FARNBOROUGH, England, July 15 (Reuters) - With UK fact

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15 Jul 2016 15:32

AIRSHOW-UK aerospace puts brave face on Brexit

* UK aerospace industry is No.2 in world behind U.S. * Brexit poses risks to investment, access to skills * But long production cycles, weaker pound help By Sarah Young FARNBOROUGH, England, July 15 (Reuters) - With UK factories working at full tilt to meet bumper demand f

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11 Jul 2016 18:55

CORRECTED-AIRSHOW-Boeing sees positive results in testing of KC-46A tanker boom

(In July 10 story, corrects paragraph 2 to show Boeing makes boom, not Cobham) FARNBOROUGH, England, July 10 (Reuters) - Boeing Co is well into testing of a modification to the refueling boom on its troubled KC-46A tanker program and is seeing "positive results," the head of the company's

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10 Jul 2016 12:58

AIRSHOW-Boeing defense CEO says always looking at M&A opportunities

FARNBOROUGH, England, July 10 (Reuters) - Boeing Co's defense division is continuing to look at bolt-on acquisitions across its various business areas, and particularly in the services business, Leanne Caret, chief executive of Boeing Defense, Space & Security, said on Sunday. Caret did no

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4 Jul 2016 07:32

Cobham secures QantasLink contract extension

(ShareCast News) - FTSE 250 aerospace and defence group Cobham has signed a contract to extend its current QantasLink contract for the provision of airline services to the end of 2026. The company has secured a 10-year, AUD1.2bn contract to continue provision of airline services to QantasLink, suppo

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4 Jul 2016 06:10

TOP NEWS: Cobham Wins AUD1.2 Billion Deal Extension With QantasLink

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29 Jun 2016 15:59

LONDON MARKET CLOSE: FTSE 100 Recoups All Post-Referendum Losses

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29 Jun 2016 11:16

LONDON MARKET MIDDAY: Political Stalling Creates Stability For Markets

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29 Jun 2016 07:47

Cobham appoints Qinetiq's David Mellors as CFO

(ShareCast News) - Aerospace and defence group Cobham announced the appointment of David Mellors as chief financial officer. Mellors, who is currently CFO at FTSE 250 science and engineering company Qinetiq, will take up the role no later than 1 January 2017. Simon Nicholls, whose resignation was a

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29 Jun 2016 06:49

TOP NEWS: Cobham Poaches New Finance Chief From QinetiQ

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27 Jun 2016 15:25

BROKER RATINGS SUMMARY UPDATE: Deutsche Lifts ITV To Hold From Sell

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23 Jun 2016 09:58

WINNERS & LOSERS SUMMARY: Tesco Cheers With Like-For-Like Sales Growth

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23 Jun 2016 07:50

Cobham wins $200m Airbus contract

(ShareCast News) - Cobham Aerospace Communications said it had won a contract worth up to $200m from Airbus to supply a new safety system with the potential for extra revenue. The system aims at providing voice and data air-ground communication and connects air traffic control applications to high-p

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23 Jun 2016 07:35

LONDON MARKET OPEN: Stocks Up Led By Tesco; Pound Holds Onto Gains

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