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Liberum reiterates 'buy' rating on BBA, says business concerns are 'overdone'

Fri, 21st Sep 2018 10:23

(Sharecast News) - Analysts at Liberum believe fears surrounding BBA Aviation's US business jet flying activity are overdone, noting that recent soft data points were "within the normal range" of monthly fluctuation.Liberum reiterated its 'buy' rating on the stock on Friday but trimmed its target price on the aviation services business, which is mainly focussed on the business sector, from 370p to 365p.The broker claimed that, despite the concerns, a supportive macro backdrop and Argus TRAQPak data which revealed a 2.1% year-on-year increase in US business aviation flights throughout August meant the recent weak share price was, in fact, a buying opportunity.Following the firm's acquisition of Landmark and Firstmark, Liberum also saw scope for BBA's Signature Flight Support wing to continue outperforming the market, which it had historically done so at 1-2% per annum.Liberum analyst Gerald Khoo said: "This added significant scale to Signature's network, adding the second largest network to what was already the market leader. This improved the quality and attractiveness of Signature's network and allowed it to renegotiate its customer agreements on more favourable terms.""We see recent share price weakness as a buying opportunity. We reiterate our 'buy' recommendation and but trim our discounted cash flow-based target price to 365p from 370p on exchange rate movements since our last review."
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4 Mar 2016 13:09

DIRECTOR DEALINGS: BBA Aviation Chairman Ups Interest

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4 Mar 2016 12:15

Broker tips: Domino's Pizza, BBA Aviation, Schroders

(ShareCast News) - Credit Suisse reaffirmed its 'outperform' recommendation on Domino's Pizza and boosted its target price for the shares, while pointing to scope for further upside to the company's earnings per share. The Swiss broker highlighted the company's decision to re-introduce stock buyback

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4 Mar 2016 10:15

BBA Aviation's shares rise after Investec retains 'buy' and lifts target price

(ShareCast News) - BBA Aviation's shares rose on Friday as Investec retained its 'buy' rating on the stock and increased its target price to 235p from 225p. Investec said the company's full year results were 1% ahead of its expectations. The aviation services giant reported a 1% drop in underlying

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3 Mar 2016 11:04

BBA Aviation's full year profit flat as revenue drops

(ShareCast News) - BBA Aviation's full year pre-tax profit came in broadly flat as revenue declined, reflecting lower fuel prices and foreign exchange headwinds. The aviation services giant reported a 1% drop in underlying pre-tax profit to $170m (£120.8m) and a 7% fall in revenue to $2.12bn in the

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3 Mar 2016 10:41

WINNERS & LOSERS SUMMARY: "Year Of Uncut Diamond" Gives Admiral Shine

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3 Mar 2016 08:07

BBA Aviation Expects Growth In 2016 As 2015 Profit Falls

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25 Feb 2016 16:19

Earnings, Trading Statements Calendar - Week Ahead

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22 Feb 2016 09:36

BROKER RATINGS SUMMARY: JPMorgan Upgrades Essentra To Overweight

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19 Feb 2016 13:03

Broker tips: Segro, Tullow Oil, BBA Aviation

(ShareCast News) - Segro's shares climbed on Friday as Investec reiterated a 'buy' rating, hailing the company's full year results. The property developer reported its full year net asset value (NAV) rose 21% to 463p a share, while pre-tax profits increased to £686.5m from £654m. The company said i

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19 Feb 2016 12:54

Investec initiates BBA Aviation at 'buy'

(ShareCast News) - Investec initiated its coverage on BBA Aviation with a 'buy' rating and a target price of 225p on Friday. The broker said the stock has performed poorly since its proposed acquisition of Landmark Aviation was announced last September, "which we believe is largely due to concerns o

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18 Feb 2016 19:08

Thursday broker round-up

(ShareCast News) - Hammerson: Exane BNP Paribas downgrades to neutral, 620p target. Go-Ahead Group: Shore Capital upgrades to buy. Auto Trader: JP Morgan reiterates to overweight with a 420p target and Deutsche Bank maintains hold, 375p target. Glencore: Citigroup keeps at buy with a 140p target.

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10 Feb 2016 16:22

Wednesday broker round-up

(ShareCast News) - Virgin Money: Nomura starts coverage at buy with a target of 445p. Domino's Pizza: Credit Suisse upgrades to outperform with a target price of 1100p. BBA Aviation: Goldman Sachs downgrades to neutral with 181p target. Greencore: Societe Generale reiterates hold with a 386p targe

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10 Feb 2016 09:35

BROKER RATINGS SUMMARY: Exane BNP Initiates LSE With Outperform

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10 Feb 2016 08:22

LONDON BRIEFING: Hikma And ARM Shares Sold After Pre-Market Updates

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9 Feb 2016 09:35

BROKER RATINGS SUMMARY: Deutsche, UBS, HSBC Cut Randgold After Rally

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