23 Jun 2016 06:26
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Don't have an account? Click here to register.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.
More News
20 Jun 2016 15:09
Broker tips: Asos, Cobham, Inmarsat
(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
Read more20 Jun 2016 09:11
Cobham rallies on BofA Merrill Lynch upgrade to 'buy'
(ShareCast News) - 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 issu
Read more17 Jun 2016 16:07
17 Jun 2016 12:49
17 Jun 2016 07:44
Cobham £506m rights issue 97% subscribed
(ShareCast News) - Aerospace and defence firm Cobham said its one-for-two rights issue had been 97.21% subscribed. The 89p-a-share issue announced earlier this month will raise £506.7m to reduce debt. Chief executive officer Bob Murphy said at the time that the issue would put Cobham on a "sound fi
Read more6 Jun 2016 12:55
Monday broker round-up
(ShareCast News) - Wolseley: JP Morgan reiterates neutral with a target price of 4100p. Cairn Energy: RBC reiterates sector perform with a 250p target. Shire: Jefferies reiterates buy with a target price of 6050p and Exane BNP Paribas stays at outperform. Cobham: JP Morgan keeps at neutral with a
Read more2 Jun 2016 16:39
Thursday broker round-up
(ShareCast News) - Moneysupermarket.com: Jefferies downgrades to hold with a target price of 312p. Wolseley: Canaccord downgrades to hold with a 4200p target, UBS reiterates buy with a target price of 4300p and Credit Suisse stays at outperform with a 4200p target. Daily Mail: Goldman Sachs reitera
Read more2 Jun 2016 14:27
Cobham secures contract with Airbus
(ShareCast News) - FTSE 250 aerospace and defence group Cobham has been awarded a contract by Airbus worth several hundred million US dollars over the period. The contract is to supply its new digital RAIMS, Radio and Audio Integrated Management System, for the A320neo aircraft family. Cobham's sa
Read more2 Jun 2016 08:41
European shares little changed before ECB; Voestalpine shines
(ADVISORY- Reuters plans to replace intra-day European and UK stock market reports with a Live Markets blog on Eikon - see cpurl://apps.cp./cms/?pageId=livemarkets for site in development. See the bottom of the report for more details) Adds details, updates prices) * Pan-European STOXX 600
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