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Authoritative Independent Monthly Share Selections Using Technical & Fundamental Analysis

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Ultra Electronics - Goldman Sachs has £22 price target

May 2012

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

  • Epic Code:
  • ULE
  • Price:
  • 1705p
A strong year for shares in defence & aerospace electronics firm Ultra, which rallied towards £18 on the back of respectable finals, in which pretax profit rose 12% to almost £115m on turnover that increased 3% to £732m. Eps went up 11% to 120.2p, while the order book rose 16% to £950m. There was a swing from £18m cash to £46m net debt but this was down to spending £142m on acquisitions including deferred consideration for past deals and current head room stands at £200m. In Tactical & Sonar, which supplies anti submarine warfare systems as well as battlespace IT products such as tactical surveillance, profit rose just 2% to £60.5m while its order book fell from ...

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Related Articles

Ultra Electronics (October 2012)
Ultra Electronics - Eps enhancing acquisition (February 2012)
Ultra Electronics - Goldmans have 1790p price target (October 2011)
Ultra Electronics - Swings into net cash (May 2011)
Ultra Electronics - Huge reduction in net debt (October 2010)
Ultra Electronics -Reassures on US, UK defence budgets (June 2010)
Ultra Electronics -Shares above £15 for first time (April 2010)
Ultra Electronics - Defence electronics firm boasts fabulous 13 year record (January 2010)

With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

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