"Q3 sales beat and firmer pricing duly arrived. BATS chose only to reaffirm FY guidance, but the tone was confident, a mood which persisted into September's Investor Seminar. We don't expect Q4 top line to be as good as Q3, but it should be ahead of H1. Despite this, the shares continue to languish," noted analyst Martin Deboo.
"BATS is now on a 25% discount to PMI and a modest one to IMT. This feels wrong to us," he added.
He has a target price of 4,200p on the shares - a good deal higher than the current price of 3,637p.
The rating is a repeated 'buy'.
The target price has also been clipped down to 260p from 300p a share previously due to persistent headwinds, a stretched balance sheet and slower than expected working cap.
Following a third quarter trading update and revisiting trends in Cobham’s end-markets, notably in marine and aviation, analyst Charlotte Keyworth assumes only 1% organic growth in 2016.
The broker has also cut its full year 2015/16 and 2017 EPS by 2% year-on- year to reflect these persisting headwinds.
Shore Capital looks at supermarket Morrison's (LON:MRW) today, noting that Andrew Higginson has completed the time -consuming rebuild of the non-executive team at the Yorkshire based group.
The house broker welcomes news today of the appointment of Rooney Annand as the senior independent director from the beginning of next year.
"We see the further development of the group board through the appointment of Mr. Anand as another welcome step forward in the re-building of this once, but still aspiring to be, great business."
"Against the backdrop of tough competition, particularly from the limited assortment discounters (LADs) in the UK, deflation, changing consumer behaviour (e.g. lower waste, easing calorific intake and more food consumer outside the home) and channel shift within grocery, Morrison's is seeking to self-improve and so make the business fit for the future."
"While this was expected, it is good to see the company’s core product back on track. We reiterate our BUY recommendation and target price of 60p," said analyst Adam Forsyth.
The group's micro combined heat and power boiler was delayed when the European Court of Justice ruled against the UK’s reduced VAT rate on energy saving products.
Metals miner Rambler (LON: RMM) revealed today it had swung back into profit in its latest quarter as copper grades recovered at its mine in Newfoundland.
Asa Bridle at broker Cantor said: "As previously announced, RMM reported a good operational performance in 1Q/2016 and this has been followed by a solid set of financials which show a significant improvement in cash generation vs. 4Q/2015, despite the continuing decline in the copper price." The broker targets 24p a share.
Shares today were unchanged at 3p each.