Intertek Share Discussion Threads

[phatprofit] 01/5/2009 10:34

nick - still fear this is overvalued and any suspicion of bid interest fading will have this back below £10 in no time. Lack of bid will tumble this to half of the current level.

All the best


P

[nickjoseph] 01/5/2009 09:47

PhatProfit. I definately agree with you. this share is starting to look strong and with breakout on the chart this does look good, especially with a possible £14 bid on this one. It always takes a few weeks to come thru after someone has leaked it out. Will wait and reap more profits from this in the long term.

[phatprofit] 30/4/2009 17:37

I think we're heading north here ...........

chart indicates a move above £11.


P

[scburbs] 24/4/2009 13:01

More news on FT Alphaville.

"Maintaining our Neutral rating on Intertek (target price of 900p)
ITRK now trades in line with SGS at 10.5x EV/EBIT 09e (which we see as unjustified given its smaller size and higher cyclicality) and with a 10% premium to BV (trading at 9.9x). In the sector, we continue to prefer both SGS and BV."

[brain smiley] 23/4/2009 11:09

RAW is market chatter - information that has not been formally tested through traditional journalistic channels (PRs etc). The story might be complete rubbish, but if we believe there is some substance to it we will say so. Either way, Reader Beware.
NHyes, hearing Intertek
NHa newcomer to the FTSE 100 has recieved a £14 a share offer from a Swiss rival called SGS
Intertek Group (ITRK:LSE): Last: 1,015, up 89 (+9.61%), High: 1,027, Low: 913.50, Volume: 1.38m
NHcan't hold of the company's felts at the moment
PMThat's the chatter going round -- waiting for comfirmation, one way or another
NHhe is going to be on the phone for quite a while I was told

[nickjoseph] 23/4/2009 09:43

Anyone out there......, great rise today but no reason or stories I have seen, will have to search, must be a broker upgrade or something. any comments

[nickjoseph] 06/4/2009 09:20

Still holding this share although I expected it go go a bit higher. Now its over the red line the graph does look exceedingly good, I did expect some fall back after entering ftse100 and that has happened. Shounld see continued rises from now on.

[enami] 25/3/2009 10:51

Interesting spike to 1005 during the first hour yesterday and now falling away on profit taking I guess.
Massive volume last Friday (4.6m) with tracker funds buying in at the last minute before FTSE100 entry.

[nickjoseph] 20/3/2009 13:25

Still holding Intertek. Looks like its just about to break out into new territory. Most brokers advising buy or hold. could possibly be tipped in Momentum Investor and weeken comment from Midas again. good luck to all.

[scburbs] 18/3/2009 11:19

Difficult to imagine that ITRK will not be badly hit by the fall off in global trade. I am short from 940p and looking to increase.

Forward PE of 12 far too high if profits start to fall. I suspect the only thing holding profits up will prove to be the fall in sterling.

[enami] 12/3/2009 12:17

Looks like a Technical Tumble today, outside the trend channel early on and profit taking I think. target the 200MA at 847??

I see the directors have awarded themselves handsomely with shares vessting in 3 years.

[fast investor] 12/3/2009 11:35

HSBC has an overweight for Intertek, raising target to £11.90 from £10.20

[fast investor] 12/3/2009 10:50

Bit of Broker info here...

Broker snap: Intertek set to grow 5-10% organically

10 Mar, 2009 11:59


Safety services specialist Intertek saw revenues tip over the £1bn mark for 2008, helping profits rise 31% in the year, and Citigroup reckons there is more growth to come.

"Intertek offers strong structural growth at high return on capital employed and with sub- average cyclicality, we believe," Citi said.

The bank believes Intertek is set for organic growth of 5-10% this year with maintained or even improved margins.

Citi has raised its price target from 950p to 1000p which values Intertek at 10 times projected 2009 earnings.

Though this is a 25% premium to the sector, Citi believes the higher rating is justified "by its higher structural growth and returns, relatively defensive growth and a compelling bolt-on acquisition story."

Citi has a "buy" recommendation on the shares.

[fast investor] 12/3/2009 10:44

Broker tips: Imperial Tobacco, Intertek, Weir

10 Mar, 2009 12:40


Citigroup expects Imperial Tobacco's earnings to improve by 22% this year, giving scope for a boost to an already generous dividend.

The US bank expects the tobacco giant to hike its 2009 dividend by 16%, making the yield at the current price 5%, which looks out of kilter with the current interest rate environment.

Though the shares have outperformed the FTSE over the last three months, they have underperformed the UK tobacco sector and the European consumer index, and on a projected price/earnings ratio of around 10, Citi rates the shares a buy.

Despite Weir's management being understandably cautious even after this morning's solid results, broker KBC Peel Hunt believes the company's shares remain worth buying.

Though market consensus was adjusted upwards as recently as January Weir still brought pre-tax profit for 2008 in 2% higher than the market had been expecting.

The company also appears reasonably confident it is on track to meet market expectations for pre-tax profit this year. "The current range is £140m-£169m. Our current forecast is 2009 PBT [profit before tax] of £153m / EPS [earnings per share] 50.3p," KBC analyst Jonathan Hurn said.

Hurn added that assuming the worst case for 2009 (i.e. a downgrade of around 9% to KBC's forecasts), Weir will be trading at about 7.6 times forecast earnings for 2009, versus an earnings multiple of 6.6 for the sector.

Although this means Weir trades at a premium of about 15% to the sector, "based on the quality of the business and the strong balance sheet we do no see this as demanding," KBC said.

"Add in 50% of group revenue coming from spares / service and we continue to see Weir as a good place to be," the broker said, reiterating its "buy" recommendation.

The broker sets a fair value of 450p on the company and a target price of 400p.

Safety services specialist Intertek saw revenues tip over the £1bn mark for 2008, helping profits rise 31% in the year, and Citigroup reckons there is more growth to come.

"Intertek offers strong structural growth at high return on capital employed and with sub- average cyclicality, we believe," Citi said.

The bank believes Intertek is set for organic growth of 5-10% this year with maintained or even improved margins.

Citi has raised its price target from 950p to 1000p which values Intertek at 10 times projected 2009 earnings.

[enami] 11/3/2009 17:34

As expected promoted to the FTSE100 effective 23 March.

[fast investor] 11/3/2009 15:58

From FT this week:-

Intertek sees opportunity in regulation.
By David Fickling.

Published: March 9 2009 23:31

Global trade growth will be flat at best this year, but regulation will provide plenty of opportunities for outsourced product testing, according to Wolfhart Hauser, chief executive of INTERTEK.

The company, which performs measurement and testing on products from toys and textiles to grains and crude oil, reported a 31 per cent rise in full-year pre-tax profits to £139m.

EDITOR'S CHOICE
Toy safety fears help drive growth at Intertek - Aug-04Intertek profits up 16 per cent - Mar-10Revenue for the 12 months to the end of December rose 29 per cent from £775m to narrowly break £1bn.

Mr Hauser said the group would reposition its business to take account of the most appealing markets.

"We have to add capacity in some areas and reduce in others," he said. "We are obviously worried about the automotive industry, but we will continue to see product development in industries where investment is quite low, such as textiles."

Volumes of trade would also be down in the oil and chemicals industries, he said, but the toys and electrical business would hold up well as it was dependent on the pace of new product development, rather than absolute trade volumes.

Diluted earnings per share rose from 46.2p to 58.9p, while the total dividend rises from 18p to 20.8p via a 13.7p final.

The shares closed up 17½p at 861½p. The company is one of the largest by market capitalisation in the FTSE 250 index.(Set for Promotion)

Mark Sheppard, an analyst at UBS, said the company had beaten consensus expectations and would be a winner in the event of an increase in protectionism.

"The sort of backdoor ways of increasing trade barriers we've seen – putting new regulations in place on quality control – is only to the benefit of these people. Instead of saying, 'we won't allow Chinese textiles to come into the US', they increase regulations, and testing companies like Intertek are brought in to police it."

Net debt increased nearly 80 per cent to £308.3m. Nearly two-thirds of that increase was due to the decline in the value of sterling, which also accounted for about a third of the increase in total revenue.

[fast investor] 11/3/2009 15:57

cheers ENAMI,

much appreciated.

[enami] 11/3/2009 15:22

According to stockchallenge it is in but the FTSE Indices announcement will be after market closes tonight to confirm.

[fast investor] 11/3/2009 15:11

Some saying this may get promotion to the FTSE 100.

Any takers?.

[fast investor] 11/3/2009 13:20

And another one just out...

HSBC has an overweight for Intertek, raising target to £11.90 from £10.20

[fast investor] 11/3/2009 13:06

And some very recent positive broker notes....

10-Mar-09 Intertek Group ITRK Citigroup Buy 923.50p 950.00p 1,000.00p Reiteration

09-Mar-09 Intertek Group ITRK Seymour Pierce Buy 924.00p 1,000.00p - Upgrade

[entj] 11/3/2008 12:50

Calling all ITRK holders -something happening - movement at last!