DJ Spirax-Sarco Continues to Show Why it Commands Such a High Premium -- Market Talk
1047 GMT - Spirax-Sarco continues to show why it commands such a high premium, Peel Hunt says after the FTSE 100 engineering company reported results for the first half of the year. Spirax delivered an impressive first half with revenue up 13% and strong order book growth across all of its three businesses, the brokerage says. The margin was overall better than expected at 25.3%, and Peel Hunt is raising the target price to 15,000 pence from 11,500 pence. And, even though shares have had a strong run, the brokerage maintains a hold rating on the stock. Shares rise 3.5% to 15,650 pence. (jaime.llinares@wsj.com)
(END) Dow Jones Newswires
August 11, 2021 06:47 ET (10:47 GMT)
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