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Aggreko

Aggreko and Capita shares fall on Liberum initiation

Liberum initiated on Aggreko with a ‘sell’ rating and initiated on Capita with a ‘buy’ rating

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In morning trading, Aggreko shares fell 2.9% while Capita’s shares fell 0.45%

Aggreko PLC (LON:AGK) shares fell on Monday as Liberum Capital initiated on the company with a ‘sell’ rating and  Capita PLC (LON:CPI) shares fell as City broker initiated on the company with a ‘buy’ rating.

Liberum initiated on Aggreko with a ‘sell’ rating and £6.35 price target.

READ: Aggreko tumbles on Argentina and slow payment concerns

In a note to clients, analysts at Liberum said: “Our main concerns relate to the competitive pressures with its core business, as well as the level of recovery on its LT receivables alongside a continued deterioration in DSO.”

Meanwhile, Liberum initiated on Capita with a ‘buy’ rating and £1.70 price target.

The analysts said: “Although risks remain, we believe that the long-term value of its core business and client relationship are being overly discounted.”

“We are encouraged by management’s first steps towards simplifying the business,” the analysts said.

In morning trading, Aggreko shares fell 2.9% to 663.8p while Capita’s shares fell 0.45% to 155.70p. 

Quick facts: Aggreko

Price: £7.90

Market: LSE
Market Cap: £2.02 billion
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