Investec said its target price of 393p is “under review” after the engineer firmed up an order to build two jackup oil rigs for Abu Dhabi's National Drilling Company. Investec believes the deal will renew investor confidence in the stock.
Merchant Securities rates the antennae manufacturer as “hold” maintaining its target price of 0.7p after Sarantel issued a trading statement warning that full year revenues would be 24 per cent lower, largely due to a delay in orders.
Numis Securities retains its “add” recommendation after the oil and gas explorer announced a discovery at the Butch prospect in the Norwegian North Sea. The broker moved its target price from 190p to 186p.