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Cobham Share News (COB)

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JPMorgan downgrades Cobham after results

Fri, 04th Mar 2016 09:06

(ShareCast News) - JPMorgan Cazenove downgraded aerospace and defence group Cobham to 'neutral' from 'overweight' and cut the price target to 255p from 305p following the company's full year results on Thursday.It noted Cobham's 2015 earnings per share were around 4% below the bank's and Bloomberg's estimates."This mainly relates to weakness in COB's short-cycle commercial end markets, especially oil & gas. 2015 net debt was also £120m higher than our estimate, due to unsold inventory at year end," it said.JPM cut its 2016-18 EPS estimates by around 4% to 5% and trimmed the target price on the back of that, higher net debt and a lower target multiple."The main investment positive for COB is that we are at an inflection in western defence spending, but there are several new concerns," it said, noting the company's big strategic moves have not worked.In 2008, at the top of the defence cycle, Cobham spent around $1bn on three defence acquisitions. Between 2012 and 2014, it spent around $2bn on several commercial acquisitions to diversify away from defence."However, the US/W.European defence market is now turning up, whilst many commercial end markets are in a downturn," JPM said.At 0913 GMT, Cobham shares were down 2.5% to 233.70p.

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UPDATE 1-UK's Cobham boosted as turnaround gains pace

LONDON, March 1 (Reuters) - British aerospace and defence company Cobham posted annual profit ahead of forecasts and stuck to its 2018 outlook, pushing up its shares that it a

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LIVE MARKETS-Results drag European shares, investors warm to UK domestics

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17 Feb 2017 09:19

Friday broker round-up

(ShareCast News) - AstraZeneca: Jefferies reiterates Buy with a target price of 5250p. BT Group: Jefferies reiterates Hold with a target price of 325p. Standard Life: Macquarie reiterates Outperform with a target price of 450p. Cobham: Goldman Sachs reiterates Sell with a target price of 88p. Dra

16 Feb 2017 17:08

UPDATE 1-European shares retreat after 7 sessions of gains, Cobham plunges

* STOXX Europe 600 index down 0.4 pct * Cobham plunges 20 pct after profit miss * Miners track weaker copper prices * Air France rallies after strong update (Adds details, closing prices) By Atul Prakash LONDON, Feb 16 (Reuters) - European equities fell on Thursday

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LONDON MARKET CLOSE: Sterling Rebound, Ex-Divs Send UK Stocks Lower

16 Feb 2017 16:59

Britain's FTSE retreats from one-month peak, mid-cap index snaps winning streak

* FTSE 100 down 0.3 pct * Energy, auto shares fall * Ex-divs weigh * Cobham slumps after results * FTSE 250 snaps 7-day winning streak By Kit Rees and Helen Reid LONDON, Feb 16 (Reuters) - Britain's top share index retreated from a one-month high on Thursday, w

16 Feb 2017 14:53

Sector movers: Aerospace & Defence and Oil & Gas drag market lower

(ShareCast News) - Stocks in the aerospace and defence space bore the brunt of selling after Cobham warned on profits for the fifth time in just over a year. The FTSE 250 aerospace and defence group took a total of £179m in charges, including £150m from the KC-46 air tanker contract with Boeing, whi

16 Feb 2017 10:30

Britain's FTSE retreats from one-month peak, commodity-linked stocks weigh

(ADVISORY- Follow European and UK stock markets in real time on the Reuters Live Markets blog on Eikon, see cpurl://apps.cp./cms/?pageId=livemarkets) * FTSE 100 down 0.4 pct * Miners, energy shares fall * Ex-divs weigh * Cobham slumps after results By Kit Rees

16 Feb 2017 10:13

European shares retreat after 7 sessions of gains, Cobham plunges

(ADVISORY- Follow European and UK stock markets in real time on the Reuters Live Markets blog on Eikon - see cpurl://apps.cp./cms/?pageId=livemarkets) * STOXX Europe 600 index down 0.3 pct * Cobham plunges 20 pct after results * Miners track weaker metals prices By Atul Pr