Newspaper article The Evening Standard (London, England)

Portfolio

Newspaper article The Evening Standard (London, England)

Portfolio

Article excerpt

BUY DELCAM WH Ireland sees software firm Delcam as a buy. It says shares in the company, which develops and sells computer design software that is used by the manufacturing industry, are trading at a discount. The bank notes that Delcam's share price has fallen by 45% since June, and describes this decline as "too severe", especially as the firm's total assets were valued at [pounds sterling]16.36 million at the end of December 2008. WH Ireland believes that Delcam sales are currently benefiting from the weak pound, and that the firm may be eyeing up future acquisitions. It names a 230p target price. Shares in Delcam today rose 1p to 1821/2p.

SELL WEIR GROUP Goldman Sachs has slashed its rating of Scottish engineering firm Weir Group from buy to sell. The recommendation came after the group said it anticipated a decline in trade, and announced plans to carry out an extensive cost-cutting programme. Weir this month reported a 53% rise in pre-tax profits for 2008 and said orders are up 30% on the same period last year. …

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