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Pin to quick picksNorthgate Share News (NTG)

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Berenberg upgrades Northgate as risks priced in

Fri, 18th Dec 2015 09:34

(ShareCast News) - Berenberg has upgraded Northgate from 'sell' to 'hold', citing the downside risk being priced into the stock.It said over the last five months, the company has seen a 40% fall in its share price as "lacklustre end-market growth and new depreciation policies have weighed on top-line and margin development."That has led the company to issue guidance of flat profit before tax for the next three years."As a result of this, combined with the fear of residual value deflation and an increasingly competitive landscape, it is unsurprising that the shares have seen a substantial pullback."With that in mind, Berenberg revised its target price down from 455p to 400p, but upgraded its rating."We...appreciate that the major downside risk it now priced into the valuation."At 1009 GMT, shares in Northgate were up 1.6p (0.41%) to 393.4p.
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3 Aug 2015 08:29

Northgate refinances debt facilities

(ShareCast News) - Northgate, a specialist in light commercial vehicle hire, announced a refinancing of the company's debt facilities. Northagate has issued a €100m, 2.38% seven-year debt private placement to an institutional investor. As a result, the group's principal bank facility has been reduce

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3 Aug 2015 08:18

London pre-open: Stocks to open lower on US and Chinese data

(ShareCast News) - City sources predict the FTSE 100 will open six points lower than Friday's close of 6,696.28. A weak close in the US on poor wage growth and consumer sentiment will put downward pressure on the markets, London Capital Group night dealer Jonathan Sudaria said. "European equities a

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London close: Last-minute Greek proposal fails to lift stocks, FTSE plunges 1.5%

A last-minute request from Greek prime minister Alexis Tsipras for a new bailout programme failed to inspire gains on London's stock market as the heavyweight mining sector bore the brunt of a reduction in risk appetite. A sell-off on the base metals market was weighing heavily on mining stocks, pus

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