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Babcock International - Price target 640p

March 2008

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

  • Epic Code:
  • BAB
  • Price:
  • 530p
Engineering and defence services firm Babcock has announced thattrading remains in line with expectations for the current year ending31 March 2008. All divisions are performing well with even thestruggling rail division now recovering, while the networks (powertransmission) side is seeing framework contracts continuing to grow. Numis is not upgrading forecasts in the short term but notes thatthere is scope for upgrades in 2010 from the aircraft carrier contract,the nuclear engineering side (through nuclear decommissioning) and inSouth Africa, whose much publicised power blackouts require asignificant amount of remedial work. Numis values Babcock at 640p,leaving the shares offering useful upside potential. ...

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With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

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