MWG.L Share News (MWG)

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Broker tips: Glaxo, Go Ahead, Modern Water

Wed, 09th Sep 2009 13:08

The Centers for Disease Control and Prevention (CDC) issued new guidelines for the use of antivirals in the treatment of flu on Tuesday, which should boost revenues drugs giant GlaxoSmithKline (GSK) receives from its Relenza flu treatment.The ruling that Tamiflu and Relenza should promptly be given to hospitalised patients suspected of having the flu rather than waiting for influenza test results supersedes the CDC's previous guidance that the drugs should be reserved for patients with more severe illnesses and those in high risk groups.Broker Panmure Gordon is forecasting Relenza revenues of £700m for 2009, and expects this figure to rise to £1bn in 2010 before sliding back towards £250m per annum from 2011 onwards.The stock is trading on 11 times projected 2010 earnings, in line with its European peers. 'Growth is not going to be easy and will be fairly low quality in the short term, with cost containment central to the thesis, but we expect the dividend yield of 5.3% to provide support,' the broker said, adding that the stock should prove an attractive purchase, particularly to risk-averse investors.Nomura said recent results from transport firm Go Ahead were ahead of expectations, prompting the broker to upgrade its 2010 earnings estimates.Nomura is now forecasting earnings per share for the year to end-June 2010 of 122.5p, up from its previous forecast of 108.5p and slightly above market consensus of 120.18p.The price target has been upped to 1580p to reflect the upgraded UK bus earnings as well as net debt. Nomura rates the shares a 'buy', trading on a 12-month forward EV/EBITDA (enterprise value/earnings before interest, tax, depreciation and amortisation) multiple of 4.8, compared with the long-term average for the company of 5.6.The price target for Modern Water has been upped by its house broker KBC Peel Hunt after the desalination firm's interim results.KBC has raised its fair value for Modern Water Group (MWG) shares from 69p to 77p and reiterated its 'buy' recommendation.'MWG's previous undervaluation, where it traded at a 30% discount to the reported cash balance, has now corrected. There is still cash backing today of 43p per share, but we believe that, as the technology is proved to work in a commercial context, investors will apply a premium to reflect the strong potential of the desalination market,' asserts KBC analyst Andrew Shepherd-Barron.

More News

18 Oct 2018 10:48

Modern Water enters collaboration deal with South Africa's WEC Projects

(Sharecast News) - Water and wastewater technology company Modern Water has entered into a collaboration agreement with South African EPC contractor WEC Projects, it announced on Thursday.

11 Oct 2018 11:18

Modern Water Launches Open Offer To Raise GBP900,000 (ALLISS)

LONDON (Alliance News) - Modern Water PLC said Thursday it launched an open offer aiming to raise proceeds of GBP900,000.The company will offer up to 10.0 million shares at 9.0 pence each,

27 Sep 2018 15:56

Modern Water Licences Technology For Use At Chinese Treatment Plant

LONDON (Alliance News) - Modern Water PLC on Thursday said it has licenced its osmosis technology to Hangzhou Shangtuo Environmental Technology Co Ltd for use at a treatment plant in water company

20 Sep 2018 09:49

Modern Water Well Placed For Revenue Growth As Interim Loss Narrows

LONDON (Alliance News) - Modern Water PLC said Thursday that its loss for the first half of the year narrowed on the back of a rise in revenue.Shares in the water treatment technology firm

20 Sep 2018 09:33

Modern Water leaks lower despite record profit

(Sharecast News) - Water monitoring systems supplier Modern Water saw its shares drip lower on Thursday despite the company recording a record first half gross profit after achieving double-digit revenue growth.

13 Sep 2018 16:04

UK Earnings, Trading Statements Calendar - Next 7 Days

Friday 14 September JD WetherspoonHalf Year ResultsTriple Point Social HousingHalf Year

21 Aug 2018 11:21

Modern Water Secures Investment From Chinese Firm, Plans Fundraising (ALLISS)

LONDON (Alliance News) - Modern Water PLC on Tuesday said it secured an investment of GBP552,349 from Chinese company Hangzhou Shangtuo Environmental Technology Co Ltd, trading as Sunup.The

2 Aug 2018 12:20

Modern Water Expects Higher Interim Sales And Narrowed Loss

LONDON (Alliance News) - Modern Water PLC said Thursday that it expects to report a sales increase on last year and narrowed loss for the first half of the year.The company said that for to

4 Jul 2018 12:27

Modern Water Opens "World's First" Brine Treatment Plant In India

LONDON (Alliance News) - Modern Water PLC said Wednesday the "world's first brine treatment plant" will be opened in India using its all membrane brine concentration plant, opened by

25 Apr 2018 11:13

Modern Water Reports Strong Start To 2018 With Revenue & Profit Up

LONDON (Alliance News) - Modern Water PLC on Wednesday said it has started 2018 strongly with revenue and profit rising significantly in the first quarter.The water technologies firm said a

29 Mar 2018 13:39

Modern Water 2017 Pretax Loss Deepens On Goodwill Impairment Charge

LONDON (Alliance News) - Modern Water PLC said Thursday a large exceptional goodwill impairment charge and lower revenue generation has resulted in a deepened pretax loss for

21 Mar 2018 13:16

Modern Water Warns On 2017 Results Amid Changes In Sales Model

LONDON (Alliance News) - Modern Water PLC said Wednesday it expects revenue and profit to be below market forecasts for 2017 due to sales model changes, which have also in in

17 Oct 2016 10:54

Modern Water receives order commitments worth £550k

(ShareCast News) - Modern Water has received order commitments from customers in the Asia Pacific region in excess of £550,000 for its range of online toxicity and trace metal monitoring equipment. The company, which owns technologies for water, wastewater treatment and the monitoring of water quali

15 Sep 2016 10:41

DIRECTOR DEALINGS: Modern Water Finance Boss Buys 100,000 Shares

14 Sep 2016 10:35

Modern Water clamps down on costs in first half

(ShareCast News) - Modern Water, an AIM listed provider for water and wastewater treatment and the monitoring of water quality, improved on its performance during the first half by cutting down on costs. Re-organisation and cost control during the first half saved the company £0.6m, with cash burn h

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Broker tips: Glaxo, Go Ahead, Modern Water

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