Company
LON:AGK
Aggreko plc is the global leader in the rental of power, temperature control and oil-free compressed air systems.
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Peel Hunt thinks the “fragile” global economy could knock demand for Aggreko’s generators while growing competition and a troubled utility business add to their concerns
The temporary power provider said the contract win reinforces Aggreko's confidence in its ability to achieve its mid-teens ROCE target in 2020
The North American fracking market has been under fire for a few months now, with oil prices plunging, pipelines maxed-out and exploration budgets exhausted
Barclays analysts said: “As the valuation has recovered from what we considered excessively depressed levels earlier in the year we now believe it fairly reflects the opportunities and risks”
The FTSE 250 group, which rents out power, temperature control, and compressed air systems, said underlying group revenue for the period was up 11% on last year
Investments and investor services
The UK blue-chip benchmark closed up 0.68 at 7,053, while the FTSE 250 added over 174 points at 18,985
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The City diary is filled to the brim, with updates expected from Taylor Wimpey, McCarthy & Stone, Vodafone, Premier Foods, Experian and many more
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The week ahead includes trading updates from Bovis Homes and Taylor Wimpey, full year results from McCarthy & Stone, interims from Royal Mail, Vodafone and Premier Foods along with a batch of UK data
HSBC upgraded Aggreko to ‘buy’ from ‘hold’ and raised its target price to 1,050p from 740p.
A look at some of the top risers and fallers in London today
The company is currently in the midst of a turnaround programme that will see £50mln extracted from its cost base
Investments and investor services
The Footsie closed Wednesday almost 96 points lower at 7,652.
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The Fed rate decision is expected to come and go with little drama on Wednesday, with the decision from the Bank of England on Thursday more likely to cause upheaval
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Aside from the raft of banking numbers in the Week Ahead, the likes of BP, Centrica, Next, Rolls-Royce, BAE Systems and Taylor Wimpey will also continue the FTSE 100 reporting splurge
Liberum initiated on Aggreko with a ‘sell’ rating and initiated on Capita with a ‘buy’ rating
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A long overdue revisiting of the "Dividends don't lie" stock-picking formula highlights an unwise dalliance with a company whose dividends had stopped growing
Profits for the current year are expected to be 'in line' with 2017, which means they'll be below what the market had been expecting
Chief executive Chris Weston pointed to strong performances in Aggreko’s rental and industrial power solutions businesses but acknowledged that the power solutions utility division held back group performance
The blue-chip index rose more than 200 points on the week, bouncing back from the recent shake-out
The Stockpot column was inaugurated to act as a laboratory for investment ideas, and like a lot of lab experiments, some things went horribly wrong
