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Analyst Research Report Snapshot


Charles Stanley: Pressure Technologies (Buy)




Charles Stanley Securities


23 Oct 2013





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Strong H2 trading The Group has issued a positive trading update that highlights a FY13 outturn that will exceed market expectations. Management note that H2 trading was strong inb oth the Cylinders and Engineered Products divisions and FY14 has begun on a positive footing. We have upgraded our normalised PBT forecast for FY13 by 20% and increased our 12 month price target to 375p. Our FY14 and FY15 forecasts increase only modestly at this early stage of the new financial year.

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