skip to content

Market News

Pressure Technologies downgraded by Cantor

30 August 2016 14:22

Cantor Fitzgerald has downgraded its recommendation on specialist engineer Pressure Technologies (LON:PRES) to 'hold' from 'buy', despite commenting that the company was "coping well in difficult conditions".

Analyst Richard Hickinbotham said: "The Group's trading update results in a material reduction in our FY2016E forecast. Whilst the statement notes that the three manufacturing divisions - Cylinders, Precision Machined Components and Engineered Products - continue to trade in-line with market forecasts, the Alternative Energy Division has been impacted by legacy contract issues and delays to already awarded contracts, which have run ahead of our expectation."

Cantor has left its target unchanged at 161 pence per share, broadly in line with the current share price.

At 2:22pm: (LON:PRES) Pressure Technologies PLC share price was -16p at 141.5p

Story provided by StockMarketWire.com

Related Company: PRES

Info Point:

To buy or sell shares call our Dealing Room on 0113 243 6941.

Too much jargon? Our glossary will help make sense of things.

Find out more about our Share Dealing Services.

Client Area Access

» Secure Login

» Not registered yet?

Branch Finder

Redmayne-Bentley have High Street branches throughout the UK. Find your nearest branch.