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TT Electronics upgraded by Numis

11 May 2016 14:12

Research analysts at Numis reckon TT Electronics (LON:TTG) has got off to a solid start to the year and say the current valuation offers an attractive entry point for investors.

The broker has therefore upped its rating on the stock to "buy" from "add", albeit leaving its target price unchanged at 170 pence per share.

Numis said: "Trading in the first four months has been in-line and supports our projections for the year, which include high teen earnings growth.

"The new investments and growth initiatives, combined with the cost actions, are expected to continue to drive earnings momentum further out."

At 2:12pm: (LON:TTG) TT Electronics PLC share price was +3p at 142p

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