BUZZ-Ashtead: breaks through to record high, ups capex forecast

** Ashtead, a particularly popular holding across UK portfolios, has broken through to a record high.

** Stock up 3.2 pct and has now recovered all losses from the profit-taking driven swoon since April.

** Ashtead still a comfortable outperformer vs the FTSE.

Chart: http://link.reuters.com/mav72w

** Ashtead's market cap has crossed $8 bln vs just under $3 bln 2 years ago.

** Universally loved across Street, all 14 analysts tracking the stock rate it a "buy."

** Healthy Q1 results and improved outlook spur broker upgrades. Investec (LSE: INVP.L - news) , Barcap both raise target prices.

** Company says it will spend more than planned on machinery & tools to meet increasing demand for construction equipment.

** Revenue breakdown: http://link.reuters.com/nav72w

** Bodes well for industrial capex which has been conspicuous in its absence so far amid the rally U.S./European stock markets.

** Results coverage. [ID:nL5N0R40N3}

(RM (LSE: RM.L - news) : vikram.subhedar.thomsonreuters.com@reuters.net)