G4S: Kepler Cheuvreux initiates at buy with at a target price of 310p.
Computacenter reported on a better start to 2018 than it had expected thanks to increased demand for its IT infrastructure procurement skills from companies striving to keep up in the digital age.
1430: With Computacenter shares right atop their 200-day moving average, Credit Suisse has revised its target price for the shares higher from 1,300p to 1,380p, albeit noting how the company had already pre-announced its full-year figures. CS also point out that progress at the company will be held back by upcoming contract renewals - which tend to result in lower short-term profitability - and some isolated contract losses. "However, all industry news-flow suggests robust trading should continue."
Computacenter's annual profit jumped by more than a fifth as strong growth in Germany offset falling profit at the IT infrastructure company's UK business.
Computacenter posted the results of its tender offer on Tuesday, which was initially set out in a shareholder circular on 23 January, and closed on 9 February.
Computacenter said it plans to return up to £100m to shareholders through a tender offer.
Independent provider of IT infrastructure services Computacenter updated the market on its trading on Monday, based on preliminary unaudited financial information for the year to 31 December 2017.
Shares in Computacenter surged as the IT services group said results for 2017 will be "comfortably in excess" of its previous expectations following a strong start to the fourth quarter.
IT infrastructure services provider Computacenter reported a 27% improvement in overall revenue in its third quarter to £931m on Friday, or a 20% uplift in constant currency.
Taking a fresh look at the UK mid-cap TMT sector, Berenberg has upgraded Computacenter and 4imprint to 'buy' from 'hold' and reversed that order as it downgraded Softcat.
FTSE 250 IT services provider Computacenter reported a 15% jump in first-half revenue on Friday, thanks in part to favourable currency movements and an "outstanding" performance in its German business, and said it remains on track for a record performance in 2017.
A late dash saw the FTSE 250 break into the black on Friday afternoon, with top risers lifted by broker upgrades.
Independent IT infrastructure services provider Computacenter posted a trading update for the first quarter to 31 March on Monday - earlier than the date previously advised due to its performance in the first quarter and an improved outlook for the full year.
IT service provider Computacenter said 2017 should be a "year of progress" after earnings rose in 2016 with good performances in Germany and France, although revenue fell in the UK.
Computacenter's non-executive chairman bought into the shares of the IT infrastructure services provider again, picking up 10,000 shares at an individual price of 721p on 14 November, the company said in a statement.
IT infrastructure services provider Computacenter reiterated its 2016 expectations as it posted a small jump in reported third quarter revenue thanks to currency movements, but constant currency revenue was weaker.
Computacenter rallied as UBS upgraded its stance on the stock to 'buy' from 'neutral' and upped the price target to 840p from 795p.
Halma: Jefferies reiterates buy with a target price of 1210p.
London stocks started the session marginally lower on Friday as investors eyed a speech by Federal Reserve chair Janet Yellen at Jackson Hole later in the day for any clues on the timing of an interest rate hike.
Strong performances in France and Germany drove a 2.8% rise in Computacenter´s revenues at the half-year stage to £1.48bn.