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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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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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