Source: Sharecast
XP Power surged after an upgrade to ‘buy’ from ‘hold’ at Jefferies.
The bank also lifted the price target to 2,330p from 1,870p. It said XP is the most exposed of its coverage companies to the semiconductor market, with 40% of 1H26 revenue coming from the semiconductor end market, mostly from customers Applied Materials and LAM Research.
"We expect XP Power to see significant earnings per share growth over the next three years as organic revenue growth and margins establish themselves back towards the group's medium-term objectives," it said. "After a troubled period extending over a number of years, XPP appears to be back into growth mode, there is upside risk to estimates and a Balance Sheet which is no longer problematic."
Online ticket platform Trainline rallied as it held guidance and launched a new £100m share buyback after delivering flat sales and revenue for the half year. Group net ticket sales came in at £3.3bn for the six months to 31 August and group underlying revenue was £233m, 1% lower year-on-year.
FTSE 250 - Risers
XP Power Ltd. (DI) (XPP) 1,926.00p 7.00%
Chemring Group (CHG) 536.00p 3.57%
Baltic Classifieds Group (BCG) 2.51p 3.55%
Auction Technology Group (ATG) 440.40p 2.96%
Travis Perkins (TPK) 588.00p 2.62%
Oxford Nanopore Technologies (ONT) 156.50p 2.55%
Renishaw (RSW) 5,100.00p 2.37%
Trainline (TRN) 194.50p 2.37%
Mony Group (MONY) 193.10p 2.17%
Grafton Group Ut (CDI) (GFTU) 964.60p 2.09%
FTSE 250 - Fallers
Gamma Communications (GAMA) 1,120.00p -4.51%
THG (THG) 26.60p -3.69%
Pan African Resources (PAF) 122.50p -3.01%
Playtech (PTEC) 392.20p -2.44%
Harbour Energy (HBR) 271.60p -2.30%
Shawbrook Group (SHAW) 311.75p -1.97%
Victrex plc (VCT) 977.00p -1.91%
Applied Nutrition (APN) 287.50p -1.88%
Hochschild Mining (HOC) 602.00p -1.88%
Dr. Martens (DOCS) 64.00p -1.84%