Analysts gave their seal of approval to an end-of-year trading update from the electronics components group, discoverIE Group PLC, which said that revenues were in line with expectations as profit margins improved.
Peel Hunt reiterated its 'buy' advice and 1,000p price target, telling clients: "discoverIE finished the year well, delivering profits in line with our expectations and improving margins. M&A activity continued in [the fourth quarter] and the pipeline of opportunities is strong."
Stifel said the performance was creditable given currency headwinds and 'mixed markets'. Repeating its 'buy', the US investment bank said: "We expect growth trends to improve steadily as fiscal 2025 continues."
In afternoon trading the stock was up 31p, or 4% at 701p.