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Expert View: ITV, Petrofac, Centrica, Carillion & Avingtrans
by Gavin Lumsden on Feb 28, 2013 at 05:01
Carillion can't do it, says Liberum
Analysts at Liberum Capital repeated their 'sell' advice on Carillion (CLLN.L) and set a 235p target price for shares in the construction and support services firm, 26% below their currrent level of 311.4p, down 6p or 1.9%, after its final results.
The group made an underlying pre-tax profit of £214.7 million last year, down 4% on 2011, as it cut back its UK construction business in response to the downturn. This was ahead of most analysts' forecasts but Joe Brent and William Shirley of Liberum said the profits had been flattered from gains of selling businesses and that net debt of £155.8 million had been worse than expected.
Next: Avingtrans continues to transform
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- ITV PLC (ITV.L)
- Centrica PLC (CNA.L)
- Avingtrans PLC (AVG.L)
- Carillion PLC (CLLN.L)
- Petrofac Ltd (PFC.L)
Aberdeen Live supplement: Fundamentals point to ongoing flows and solid returns from EMD
After a record year for inflows and market-leading performance in 2012, emerging market debt has taken a large step towards the mainstream. Our recent debate covers the outlook for the asset class this year and where opportunities can be found.