12 Aug 2015 08:40
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Don't have an account? Click here to register.Exane downgrades Cobham after H1 results
Wed, 10th Aug 2016 09:11
(ShareCast News) - Exane BNP Paribas downgraded Cobham to 'underperform' from 'neutral' and cut the price target to 140p from 143p, highlighting lingering doubts following the company's first-half results last week.The bank said sales and trading profit in H1 were broadly in line with consensus."Cobham will continue to face difficulties in H2 and the H1 results did not inspire more confidence," it said.Exane said that despite something of a recovery in the last three months, the stock has underperformed the sector by around 32% year to date, making it the weakest performer in its coverage."After the stock's bounce in the last three months, Cobham trades at a valuation premium versus other defence companies and looks unattractive versus more resilient defence plays (BAE Systems) or more compelling civil value cases (Airbus Group, Dassault Aviation)."The FTSE 250 aerospace and defence group is struggling in military activities, especially its CAES division, which suffers from technical and supplier quality issues, but also from the end of production on certain mature programmes, Exane said."Cobham is likely to struggle to generate organic growth in 2016e and perhaps even in 2017e. We do not expect organic growth and margin to recover until 2018e."At 0918 BST, Cobham shares were down 1.3% to 159.70p.
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10 Aug 2015 15:54
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Britain's FTSE bounces off lows after mining sector turnaround
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Meggitt buys Cobham's advanced composites business for $200m
(ShareCast News) - Engineering group Meggitt has agreed to acquire the advanced composites business of Cobham for $200m in cash financed from existing resources, in a deal that is expected to be immediately earnings-enhancing. The business makes engineered aerospace composite engine components and c
Read more7 Aug 2015 13:53
Liberum upgrades Cobham, says first-half results better than feared
(ShareCast News) - Liberum upgraded Cobham to 'buy' from 'hold' and raised the price target to 330p from 315p, saying the company's first-half results on Thursday were better than feared. It said cash conversion and the order intake have improved while the outlook was in line. Liberum said: "Defenc
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