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BUZZ-Rotork: HSBC ups to "buy" on recovery, cost saving potential

Reuters - UK Focus

** HSBC raises valve-control systems maker to "buy", saying improving order intake should support further share price gains

** "Relentless energy demand should act as the catalyst for increased energy infrastructure spend and this could be compounded by an equipment upgrade cycle"

** HSBC also sees co's cost savings as "potentially greater" than the market is expecting

** HSBC raises its earnings forecasts by 5 pct for 2018 and 10 pct for 2019 (3 pct and 8 pct respectively ahead of cons), assuming c14 mln pounds of cost savings over next 2 yrs

** HSBC lifts price target to 335p (the most bullish), implying 15 pct upside to current price

** The stock has the highest no. of "buy" ratings in at least two years, according to Thomson Reuters (Dusseldorf: TOC.DU - news) data