• Most Popular
  • Most Shared

STOCKS NEWS EUROPE-Chemring up on Kilgore contract win

Mon Oct 5, 2009 8:34am EDT

Stocks

   

Shares in Chemring Group Plc (CHG.L) rise 5.8 percent after the British military-goods maker says its U.S. unit Kilgore Flares Co LLC received a five-year contract with a maximum potential value of $804 million for the supply of decoy flares to the U.S. Department of Defence.

RBS says: "There are significant opportunities in 2010, with market share wins, including today's Kilgore flares award, a key focus. The Hi Shear deal should complete in Nov/Dec, and the rating is still undemanding," says RBS in a note.

The broker, which repeats its "buy" rating, says there is still upside potential to its below consensus 2010 forecasts and it feels that "Chemring still deserves to trade at a premium to the sector, irrespective of the market's views on the Aerospace & Defence sector".

For more double click on [ID:nBNG496890]

Reuters Messaging rm://david.brett.reuters.com@reuters.net


More from Reuters

Photo

RIM profit, outlook top forecasts, shares surge

OTTAWA (Reuters) - Research In Motion posted a big jump in profit and issued an even stronger outlook on Thursday, as sturdy demand from holiday shoppers helped the BlackBerry maker fend off the competition.

» More Top News
President Barack Obama delivers remarks at Lehigh Carbon Community College in Allentown, Pennsylvania, December 4, 2009. REUTERS/Jim Young
Analysis:

Would you give him a B+ too?

"I told Michelle when we got here that in six months my poll numbers will start crashing," says President Obama. He's not worried -- yet.  Full Article 

Barack Obama
A U.S. Army soldier from Task Force Denali Platoon 1-40 CAV fire a 60mm mortar towards the mountain while Afghan army soldiers cover their ears during a patrol at Nadir-Chawcod district in Khowst province December 16, 2009. REUTERS/Zohra Bensemra
Bernd Debusmann:

Burning borrowed money

The Pentagon burns through $5 million in borrowed money every hour in Afghanistan and the amount is expected to more than double once additional troops are deployed.   Commentary 

Afghanistan