• Most Popular
  • Most Shared

STOCKS NEWS EUROPE-BBA climbs as Citi upgrades

Fri Aug 21, 2009 6:58am EDT

Stocks

   

Shares in BBA Aviation (BBA.L) climb 3.5 percent as Citigroup upgrades its rating on the company to "hold" from "sell" and hikes its target price to 150 pence from 60 pence after raising its earnings forecasts following the firm's recent first-half results.

The broker says, in a note, it now believes BBA's "financial position looks more secure and that trading is near to a trough" after the company reported robust first half trading and strong cash generation.

Citigroup raises its EPS estimates for the aviation services group by 9 percent for 2010 to reflect the first half results and adjusted currency expectations.

For more information on BBA's first half results double click on [ID:nBNG386421].

Reuters Messaging rm://matthias.lomas.reuters.com@reuters.net

rm://jon.hopkins.reuters.com@reuters.net


More from Reuters

Photo

Senate on track to pass healthcare bill

WASHINGTON (Reuters) - Senate Democrats moved closer on Monday to passing landmark healthcare legislation by Christmas after scoring a win in the first big test vote and gaining the support of a powerful lobbying group for doctors. | Video

» More Top News
Photo

Political risk clouds Asia

The economic outlook is strong, but the danger of a sudden correction hangs over Asian markets - as political risks could turn sunshine to storm clouds in the blink of an eye.  Full Article 

Global Markets
Two men shake hands in a file photo. REUTERS/File

Let's make a deal

The battered M&A sector will make a tepid recovery in the coming year and three hot sectors will lead the way, according to a Thomson Reuters analysis.  Full Article 

Global Deals Review