Advertisement
UK markets close in 7 hours 20 minutes
  • FTSE 100

    8,424.61
    +43.26 (+0.52%)
     
  • FTSE 250

    20,600.10
    +68.80 (+0.34%)
     
  • AIM

    785.76
    +2.06 (+0.26%)
     
  • GBP/EUR

    1.1620
    +0.0009 (+0.07%)
     
  • GBP/USD

    1.2529
    +0.0005 (+0.04%)
     
  • Bitcoin GBP

    50,251.43
    +1,335.44 (+2.73%)
     
  • CMC Crypto 200

    1,307.94
    -50.07 (-3.69%)
     
  • S&P 500

    5,214.08
    +26.41 (+0.51%)
     
  • DOW

    39,387.76
    +331.36 (+0.85%)
     
  • CRUDE OIL

    79.80
    +0.54 (+0.68%)
     
  • GOLD FUTURES

    2,372.80
    +32.50 (+1.39%)
     
  • NIKKEI 225

    38,229.11
    +155.13 (+0.41%)
     
  • HANG SENG

    18,967.54
    +429.73 (+2.32%)
     
  • DAX

    18,794.17
    +107.57 (+0.58%)
     
  • CAC 40

    8,231.34
    +43.69 (+0.53%)
     

BUZZ-Hunting: Rises after UBS upgrades to 'buy'

** Oilfield services provider Hunting Plc up >6 pct after UBS upgrades to "buy" from "neutral"

** Says has been cautious on co given the downside risk to earnings in its US Titan business, but with recent round of capex comments, broker believes these risks are now well understood and priced in

** Says co's lesser known international business, which accounts for 30% of revenues but generated an operating loss over past 4-5 years, is approaching an inflectin point and should start to turn positive from 2019

** Says momentum in US (non-titan) business also showed good growth, +30% sequentially into H2 2018 and broker expects this to continue into 2019

ADVERTISEMENT

** UBS raises 2019 operating profit forecast by 20% (Titan better than expected, other US and international improving), also raises PT to 710p from 600p

** Stock among top gainer in FTSE mid cap

(Reporting By Geetha Panchaksharam)