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Numis upgrades Weir on positive update

17 July 2017 16:04

Brokerage firm Numis has upped its rating on Weir Group (LON:WEIR) to add (from hold) on the back of the pump manufacturer's positive half-year update.

Analyst David Larkam said: "Management pointing to stronger recovery in the oil & gas business in recent weeks including some recovery in pricing.

"This is significantly more upbeat than the statement announced with the KOP acquisition."

At 4:04pm: (LON:WEIR) Weir Group PLC share price was +165.5p at 1989.5p

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