The Times's Tempus column goes to war for the defence equipment manufacturer Chemring. It was battered yesterday, falling 12.6% after suggesting the coming year could be quite tough. Tempus argues the market may have overreacted as Chemring is looking outside NATO for customers. The firm is also boosting dividend, with a forward yield at around 4.6%, and trades at just seven times earnings. With a takeover not impossible Tempus says Chemring is a speculative buy.

Tempus also gives the thumbs up to oil firm Nautical Petroleum which has sold 25% of it stake in the Kraken field in the North Sea to EnQuest. Both firms look to have a good chance of making big bucks on the potential find of 160 million barrels. Nautical is therefore a buy.

BS

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Chemring Group (CHG) share price
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