Plexus Holdings PLC (AIM:POS), an AIM-quoted oil and gas engineering services business, is “on the road to recovery”, Ian Mcnally, a research director at brokerage Cavendish Financial, said on Wednesday.
The owner of the proprietary POS-GRIP friction-grip method of wellhead engineering reported its preliminary full-year results for the year ended 30 June 2023 on Wednesday.
Rolls-Royce Holdings PLC (LSE:RR.) has set ambitious new targets, unveiled at its long-anticipated capital markets day (CMD) event on Tuesday, which would position it to broadly beat analysts’ medium-term expectations.
According to analysts, the market’s widespread optimism that this month’s Rolls-Royce investor day would be transformational was “well placed”.
Trident Royalties’ new lower-cost debt facility will give it the potential to support future acquisitions; improve the company’s competitiveness and increase its ability to deploy capital to drive value-accretive growth, suggests broker Liberum
Trident is expecting to close and draw down the RCF in early 2024 subject to definitive documentation, related security, and other customary conditions.
Following JLEN Environmental Assets' (LSE:JLEN) positive results, Stifel has upgraded its rating to 'positive', saying it has "greater comfort" on leverage and commitments, with the expectation of some portfolio sales to reduce debt in the months ahead.
With leverage at the fund level of 16% of net asset value, plus project leverage resulting in combined leverage of 40% of NAV, JLEN is one of the lowest levered funds.
After Neometals Ltd closed a A$9 million fundraising (£4.7 million) and looks to drum up another A$13 million, analysts at house broker RBC Capital Markets said the company's Primobius solution is "potentially worth multiples of the current share price".
Added to A$14.2 million of cash at hand, the placing that closed last week and the entitlement offer (right issue) are priced at A$0.19 or 10p per share.
Deliveroo PLC (LSE:ROO)'s founder and chief executive Will Shu confirmed at an investor event today that Deliveroo will expand its offering to non-food retail.
The delivery company held what its vice president of finance, strategy and investor relations, David Hancock, said was its first Capital Markets Day (CMD) event at its headquarters in London today.
Endeavour Mining is heading into 2024 in good shape, according to analysts at Barclays, helped by geopolitics and its own efforts.
An upcoming resource upgrade on Tanda-Iguela should trigger NPV upgrades, says the bank while the gold price looks interesting given ongoing elevated geopolitical risk, low current VIX levels and record central bank buying.
EasyJet impressed analysts with its full-year results and the mood remained upbeat on reflection, though most concede the going gets harder from here on in.
Barclays said the numbers were at the top end of guidance with demand softness in the aftermath of the Israel-Hamas conflict now recovering.
Cordiant Digital Infrastructure Ltd's (LSE:CORD) interim results showed a relatively muted net asset value (NAV) performance as a positive underlying valuation movement was mostly offset by currency swings and discount rate headwinds, said analysts at Jefferies.
NAV decreased to 112.7p at end-September from 113.4p, as the 8.7% increase in underlying valuation met a -3.8% change in the discount rate on the opening NAV and -2.6% from FX.
Quadrise PLC (AIM:QED) has made impressive progress recently in all areas, according to broker Shore Capital, though it sees the shipping and alternative fuel areas as having the most upside.
The group’s proprietary bioMSAR and MSAR fuels for marine and industrial usage have the ability to significantly reduce both fuel costs and emissions, said the broker.
Southwest water supplier Pennon Group PLC (LSE:PNN, OTC:PEGRY) has raised its dividend by an inflation-busting 8.3% despite reporting lower interim profits.
Inflation was blamed for a drop of 60% in profits to £9.1 million even though revenue rose by 5% to £448 million.
Aviva PLC (LSE:AV.) lost out, while Legal & General Group PLC (LSE:LGEN) was rated a 'top pick' as Deutsche Bank published a sector-wide review of the European insurance sector.
The German bank has taken a more upbeat view of the sector with Direct Line Insurance Group PLC (LSE:DLG) and L&G among its top picks while question marks over Aviva prompted its rating to be lowered.
Shares in Halfords Group PLC (LSE:HFD) dropped 18% in the first hour of trading after it tweaked down its City guidance.
The bike retailer and car parts group reduced its profit forecast by £5 million amid declining discretionary spending against a tough economic backdrop.