Broker Roundup: Aggreko and UK insurers in focus

Two brokers raised their target prices for Aggreko (AGGK.L) on Monday, following an upbeat trading update from the world's biggest temporary power provider, while UBS issued a report on UK insurers.

Maintaining a ‘hold’ rating for Aggreko, analysts at Panmure Gordon said: ‘At current levels the shares stand on a [price-to-earnings ratio] of 22.6x falling to 21.2x, which may be a toppy multiple for some, given the level of growth (albeit against stiff comparisons).’

They added: ‘Nevertheless, Aggreko’s consistent delivery of growth and strong market positions leave it very well placed for the medium term, and with good momentum into H2 we increase our target price from 1692p to 1861p, representing 22x 2012 earnings-per-share.’

Seymour Pierce raised its price target for the stock  to £21.00 from £19.00, with a ‘buy’ rating.

UBS insurance report

Meanwhile, UBS reduced RSA Insurance (RSA.L) to ‘neutral’ from ‘buy.’

UBS set a short-term ‘buy’ on Legal and General (LGEN.L), maintaining a ‘neutral' rating but raising its target price target for the stock to 120p from 115p.

UBS cut its price target for RSA Insurance Group (RSA.L) to 135p from 150p.

UBS cut its price target for Aviva (AV.L) to 398p from 470p, with a ‘neutral’ rating.

UBS cuts its price target for closed life fund business Phoenix Group (PHNX.L) to 628p from 660p, giving the stock a ‘neutral’ rating.

UBS raised its price target for Resolution (RSL.L) to 301p from 300p, with a ‘neutral’ rating.
 
UBS cut its price target for Standard Life (SL.L) to 202p from 220p, giving the stock a ‘neutral’ rating.

Upgrades, raised price targets

Charles Stanley hiked its price target for marine engineering group Hamworthy (HAMW.L) to 608p from 455p, with a ‘hold’ rating.

Panmure raised its price target for Amiad Filtration Systems (AFS.L) to 283p from 235p, with a ‘buy’ rating.