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Berenberg downgrades Signature Aviation to 'sell'

Thu, 28th May 2020 09:49

(Sharecast News) - Berenberg downgraded Signature Aviation - formerly BBA Aviation - to 'sell' from 'hold' on Thursday as it said the stock's re-rating has been too aggressive.
It noted that since its lows in April, Signature shares have rallied nearly 80% and are outperforming the FTSE 250 year to date.

"We feel the market has got ahead of itself. The aviation industry is facing its biggest crisis, perhaps ever, with the outcome, winners and losers yet to be determined," it said. "With this in mind, a 17x 2021 price-to-earnings (pre-IFRS 16), reflecting a 'normal year' earnings, is well above historical averages, despite the significantly higher degree of uncertainty."

Berenberg said that on consensus numbers, Signature is trading at its highest relative valuation versus the FTSE 250 over the last five years.

2Given the sluggish recovery expected - -our FY 2022 EBIT remains below FY 2019 - we think there is downside risk to the valuation, with material long-term earnings risk."

The bank maintained its 165p price target.

At 1020 BST, the shares were down 3.9% at 243.00p.
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23 May 2014 09:53

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Admiral Group: JP Morgan raises target price from 1022p to 1164p, while staying with its underweight rating. Antofagasta: Investec cuts target price from 715p to 690p and leaves its sell recommendation unchanged. Assura Group: Liberum Capital shifts target price from 44p to 47p and stays with its

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23 May 2014 09:11

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LONDON (Alliance News) - The following UK shares received analyst recommendations Friday morning:
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FTSE 100
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GOLDMAN RAISES JOHNSON MATTHEY PRICE TARGET TO 3980 (3600) PENCE - 'NEUTRAL'
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TRADERS: JPMORGAN ADDS AB FOO

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Signet Jewelers Reports Strong First Quarter In Both UK And US

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Zale Recommends Stockholders Vote In Favor Of Signet Deal

LONDON (Alliance News) - Zale Corp. reiterated its commitment to the pending merger with Signet Jewelers Limited, under which Zale stockholders would receive USD21.00 per share in cash. The company recommended its stockholders vote in favor of the Signet transaction at the May 29, 2014 spec

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24 Apr 2014 16:41

DIRECTOR DEALINGS: Signet Executives Sell Shares

LONDON (Alliance News) - Signet Jewelers Limited PLC Thursday said Robert Trabucco, a divisional executive, sold 2,043 shares at a price of USD99.79 each and now holds 20,621 shares in total Wednesday. The company also said Edward Hrabak and Mark Light, also both divisional executives, sold

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17 Apr 2014 17:08

DIRECTOR DEALINGS: Signet Jewelers Directors Sell Shares

LONDON (Alliance News) - Signet Jewelers Ltd Thursday said directors Michael Povall and Sebastian Hobbs sold 703 and 295 shares, respectively, at a price of USD101.67 per share. Following this transaction Povall now holds 3,881 shares and Hobbs 4,545 shares in the firm. The firm also

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Sweett Group directors cheers full-year outlook

A number of Sweett Group board members on Tuesday added to their company holdings following an upbeat trading update from the property and infrastructure consultancy. Non-Executive Chairman Michael Henderson acquired 25,000 shares for a total spend of £10,125, while the wife of Chief Executive Off

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16 Apr 2014 11:35

DIRECTOR DEALINGS: Signet Jewelers Executives Sell Shares

LONDON (Alliance News) - Signet Jewelers Ltd PLC Wednesday said a group of executives, including Chief Executive Michael Barnes sold shares at a price of USD101.73 each.

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