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BUZZ-RPS Group: Shares jump on peer comments
August 27, 2014 / 1:46 PM / 3 years ago

BUZZ-RPS Group: Shares jump on peer comments

** Consultancy firm RPS Group Plc’s shares rise as much as 5.2 percent, driven by comments larger Australian peer WorleyParsons Ltd made about market conditions in Australia and the United States.

** RPS is among the top percentage gainers on the FTSE-250 MidCap Index on the London Stock Exchange.

** Peel Hunt Christopher Bamberry and market makers at Winterflood Securities cite a read-across from WorleyParsons comments as a reason for RPS’s share price surge.

** Capital investment in non-resource infrastructure, particularly in environmental services, water and power generation and transmission, has a stronger outlook, WorleyParsons says.

** The Australian mining services company also guides towards positive outlook in North America for water and environment services to unconventional oil and gas customers.

** WorleyParsons has a market capitalisation roughly four times the size of RPS.

** Comments from WorleyParsons are in line with those made by RPS when it reported results in July, Bamberry says.

** Bamberry has a “buy” rating on and a target price of 302 pence on RPS’s stock, which hit a high of 295 pence earlier on Wednesday.

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