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Exane downgrades Cobham after H1 results

Wed, 10th Aug 2016 09:11

(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."Cobham will continue to face difficulties in H2 and the H1 results did not inspire more confidence," it said.Exane said that despite something of a recovery in the last three months, the stock has underperformed the sector by around 32% year to date, making it the weakest performer in its coverage."After the stock's bounce in the last three months, Cobham trades at a valuation premium versus other defence companies and looks unattractive versus more resilient defence plays (BAE Systems) or more compelling civil value cases (Airbus Group, Dassault Aviation)."The FTSE 250 aerospace and defence group is struggling in military activities, especially its CAES division, which suffers from technical and supplier quality issues, but also from the end of production on certain mature programmes, Exane said."Cobham is likely to struggle to generate organic growth in 2016e and perhaps even in 2017e. We do not expect organic growth and margin to recover until 2018e."At 0918 BST, Cobham shares were down 1.3% to 159.70p.
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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 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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