Spirax-Sarco Engineering (SPX.L) 24-03-20
Will Spirax-Sarco Engineering (SPX.L) fall beyond the 7800p support level, or will we see a retest of 9085p? (+14%)
- The stock is near support at 7800p, now trading at 7935.0p (at time of writing).
- Whilst the past does not always repeat itself, the support level has held up well.
- From here, will buying pressure return to drive the price back to 9085p? (+14%).
- As always, be aware of news and events that can change the market’s perception of value – this can lead to key levels being broken.
- Shares -15% from 12-month highs; +12% from 12 month lows.
20 Mar: Goldman Sachs reiterates its sell rating on Spirax-Sarco Engineering (SPX) and reduced the target price to 7200p (from 7400p).
19 Mar: UBS reiterates its neutral rating on Spirax-Sarco Engineering (SPX) and reduced the target price to 8900p (from 9200p).
12 Mar: Jamie Pike, Chairman, bought 1,300 shares within the firm on the 12th March 2020 at a price of 7690.00p. This Director currently has 9,946 shares.
11 Mar: Spirax-Sarco, the steam management system manufacturer, posted an 8% increase in profit for the full year, driven by better sales figures.
19 Feb: Peel Hunt reiterates its add rating on Spirax-Sarco Engineering (SPX) and increased the target price to 10000p (from 8450p).
14 Feb: Jefferies International reiterates its hold rating on Spirax-Sarco Engineering (SPX) and increased the target price to 8710p (from 7855p).
Source: Bloomberg, Reuters, Alpha Terminal, FT, DJ Newswires