TechMARK movers: Panmure backs Imagination

Broker Panmure Gordon has upgraded its share price target for Imagination Technologies from 200p to 250p a share. This follows a meeting with the management of the multimedia processors technology company yesterday. Management was positive about the prospects for its processor core, Meta. The Motorola Droid phone uses Imagination's graphics chip technology. Imagination also has a strong relationship with Apple. The company believes that it can ship more than 200m units in 2010-11 and the chief executive is positive about prospects for the semiconductor sector next year. There is 15% growth forecast for 2010 and restocking could boost this rate. Panmure Gordon reckons that the market is not putting much of a value on Imagination's digital radio business Pure. Earnings per share of 4.16p are forecast for the year to April 2010, rising to 10.6p in 2010-11. Medical devices developer Biocompatibles International says that it has continued to progress in the third quarter of 2009 and expects a good second half. Full year revenues will be at the upper end of the £24m-£26m range introduced in August. Even at the bottom end of the range revenue growth will be 36%. There was net cash of £31.8m at the end of September 2009 and Biocompatibles is on course to beat its year-end net cash estimate of £28m. FTSE TechMARK - RisersImagination Technologies (IMG) 217.10p +8.77%Innovation Group (TIG) 12.00p +6.67%Biocompatibles International (BII) 255.00p +6.36%SDL International (SDL) 421.00p +5.25%AEA Technology (AAT) 31.00p +5.08%Alterian (ALN) 189.00p +4.28%Oxford Biomedica (OXB) 14.00p +3.70%Psion (PON) 117.50p +3.52%XP Power (XPP) 300.00p +3.45%Wolfson Microelectronics (WLF) 128.25p +3.43%FTSE TechMARK - FallersPhytopharm (PYM) 15.50p -4.62%Phoenix IT Group (PNX) 210.00p -4.11%Anite Group (AIE) 34.00p -3.55%Optos (OPTS) 90.00p -3.23%ProStrakan (PSK) 105.25p -3.22%GB Group (GBG) 20.75p -2.35%Alphameric (ALM) 31.75p -2.31%NCC Group (NCC) 395.00p -1.86%Consort Medical (CSRT) 400.25p -1.78%Filtronic (FTC) 33.50p -1.47%