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STOCKS NEWS EUROPE-BBA Aviation up; Panmure ups to "buy"

Thu Nov 5, 2009 5:41am EST

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Shares in BBA Aviation (BBA.L) gain 2.6 percent after Panmure Gordon raises its rating on the aviation services company to "buy" from "hold", while upping its target price to 190 pence from 155 pence.

The broker says after two years of decline for U.S. business jet activity October data suggests "the long-awaited broader based recovery has set in."

Panmure says it lifts its recommendation "to anticipate the U.S. recovery event and to take advantage of the recent retreat in the share price," noting the stock still commands a 5.1 percent dividend yield.

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


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