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BUZZ-Aggreko: A temporary power squeeze
March 11, 2014 / 10:21 AM / in 4 years

BUZZ-Aggreko: A temporary power squeeze

The squeeze in power generator supplier Aggreko PLC shares proved short-lived and the stock appears to be heading back to a chart support as earnings and revenue forecasts come under pressure.

** Aggreko is the 4th most-borrowed stock on the FTSE 100 according to Markit with more than a fifth of the shares available to be borrowed out on loan. Vedanta, CRH PLC & J Sainsbury are the top three.

** Six analysts have cut EPS and revenue estimates for 2014 since the company reported numbers last week and mean earnings estimate is down 2.5% over that period.

** ‘Sell’ ratings are on the increase, particularly among the better ranked analysts, and the stock price is now close to the average price target on the Street.

** On the charts, Aggreko is moving back to prior lows from which it has bounced back thrice this year.

** But with the shorts covering following results support from that front may be limited if further downgrades are on their way.

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