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Broker tips: Weir, Rexam, BowLeven

Thu, 24th Nov 2011 12:59

Peel Hunt has upgraded FTSE 100 industrial engineer Weir from hold to buy following yesterday's acquisition of Seaboard Holdings.Weir, which operates in the oil, gas, power and mineral markets, announced that it would pay $675m for US wellhead specialist Seaboard, a deal which Peel Hunt thinks looks "highly complementary" to products in Weir's oil and gas division. "Even though the valuation looks full, it comes with good growth and cross-selling potential", the broker said.The rating upgrade comes as the shares have de-rated, but as the broker values the company at a 20% premium to the sector average, the target price is reduced from 2,100p to 2,000p.Galvan Research has given packaging company Rexam a buy rating, saying that the FTSE 100 firm is a "canny investment".Galvan says that a combination of factors - including an upbeat 2012 outlook, a decent charting picture and the possibility that the underperforming Personal Care division could be divested - mark the shares out as a buy."The upside for Rexam should be the current position of the 200-day moving average at 360p," said Galvan's head of research Andrew Gibson.Evolution Securities has downgraded its rating on West Africa-focused oil and gas exploration group BowLeven from buy to neutral, saying that the latest results from Sapele-3 well "leaves more questions than answers".The firm announced on Thursday that the well, located off the coast of Cameroon, found 8m of net hydrocarbon pay of which 6m were located in reservoir sands with good porosity and permeability. However, Evolution notes that "only mud log analysis and gas chromatography were used to indicate that the sands are likely to be oil bearing."Analyst Richard Griffith says that this is "far from conclusive" and investors will not know the well's true potential until the appraisal programme in 2012. The broker cuts its target price from 190p to just 80p and downgrades but notes that this is more to do with timing issues rather than potential.BC

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20 Jul 2015 18:54

Ball falls as Rexam takeover probed by EU competition regulator

(ShareCast News) - European competition regulators on Monday opened an investigation into Rexam's agreed £5.4bn takeover by US rival Ball Corporation. The European Commission will probe the deal over concerns that it may stifle competition in the continent's beverage can and aluminium bottle manufac

20 Jul 2015 17:19

UPDATE 1-EU regulators to probe U.S. drinks can maker Ball's bid for Rexam

(Adds details of probe) By Foo Yun Chee and Julia Fioretti BRUSSELS, July 20 (Reuters) - European Union antitrust regulators have opened an in-depth investigation into whether U.S. drinks can maker Ball Corp's 4.4 billion pound ($7 billion) offer for Britain's Rexam Plc will lead to h

20 Jul 2015 16:55

EU regulators to probe U.S. drinks can maker Ball's bid for Rexam

BRUSSELS, July 20 (Reuters) - European Union antitrust regulators opened an in-depth investigation on Monday into U.S. drinks can maker Ball Corp's 4.4-billion-pound ($6.85 billion) offer for U.K. peer Rexam Plc, concerned about the anti-competitive effects. "The Commission has concerns tha

15 Jul 2015 15:36

Rexam finance director Robbie to take leave of absence due to illness

(ShareCast News) - Rexam's finance director David Robbie has been granted a leave of absence to undergo medical treatment and chemotherapy, having been recently diagnosed with a serious condition. Kath Kearny-Croft, director of group planning and finance, has been asked to take the role of acting fi

15 Jul 2015 11:11

Rexam Finance Director Robbie Takes Leave Of Absence Due To Illness

17 Jun 2015 10:30

UPDATE 1-EU regulators to decide by July 20 on Ball's $6.9 bln Rexam bid

(Adds background, timing of deal) BRUSSELS, June 16 (Reuters) - European Union market competition regulators are set to decide by July 20 whether to approve the 4.4 billion-pound ($6.9 billion) merger deal between Ball Corp and Rexam Plc, the world's two largest makers of drinks cans. Read more

16 Jun 2015 18:20

EU mergers and takeovers (June 16)

BRUSSELS, June 16 (Reuters) - The following are mergers under review by the European Commission and a brief guide to the EU merger process: APPROVALS AND WITHDRAWALS -- PRS for Music Ltd (PRSfM), Foreningen Svenska Tonsattares Internationella Mysikbyra (Stim) and Gesellschaft fÃ¼r mus

16 Jun 2015 16:10

EU regulators to decide by July 20 on Ball's $6.9 bln Rexam bid

BRUSSELS, June 16 (Reuters) - European Union market competition regulators are set to decide by July 20 whether to approve the 4.4 billion-pound ($6.9 billion) merger deal between Ball Corp and Rexam Plc, the world's two largest makers of drinks cans. The companies sought approval for the d

27 May 2015 05:13

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REX.L Share News (REX)

Broker tips: Weir, Rexam, BowLeven

Ball falls as Rexam takeover probed by EU competition regulator

UPDATE 1-EU regulators to probe U.S. drinks can maker Ball's bid for Rexam

EU regulators to probe U.S. drinks can maker Ball's bid for Rexam

Rexam finance director Robbie to take leave of absence due to illness

Rexam Finance Director Robbie Takes Leave Of Absence Due To Illness

UPDATE 1-EU regulators to decide by July 20 on Ball's $6.9 bln Rexam bid

EU mergers and takeovers (June 16)

EU regulators to decide by July 20 on Ball's $6.9 bln Rexam bid

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