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Dialight upgraded by Investec

06 December 2016 14:18

Equity research analysts at Investec have upgraded their recommendation on Dialight (LON:DIA) to 'buy' from 'hold' after the light emitting diode (LED) designer's margins came in ahead of expectations.

Investec commented: "It is difficult to find UK Industrial stocks with Dialight's growth potential and the 'self-help' element of the investment proposition seems to be coming through well.

"We maintain an appropriate level of caution, in view of the limited visibility and the fundamental changes occurring at Dialight, but we are pleased with the latest update."

The broker has upped its target to 850 pence a share (from 710 pence), implying a forecast total return of 22.4 per cent.

At 2:18pm: (LON:DIA) Dialight PLC share price was +62.75p at 761.75p

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