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BBA Aviation upgraded by JP Morgan

03 August 2016 13:44

JP Morgan Cazenove has upgraded its recommendation on BBA (LON:BBA) to 'overweight' from 'neutral' following the aviation services group's first half results, which came in slightly ahead of expectations.

The City heavyweight said: "A strong cash performance, with FCFe rising drives leverage reduction down faster than expected, to $1.44bn, 3.2x ND/EBITDA.

"Although challenges continue in the Aftermarket, specifically at ERO, we take heart from a strong performance at Signature, which saw organic growth accelerate in H1."

Analysts have lifted their price target to 274 pence per share from 242 pence.

At 1:44pm: (LON:BBA) BBA Aviation PLC share price was -2.25p at 253.85p

Story provided by StockMarketWire.com

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