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BUZZ-Spectris: GS removes from "conviction buy" list
October 15, 2015 / 7:59 AM / 2 years ago

BUZZ-Spectris: GS removes from "conviction buy" list

** Electrical engineering company Spectris down 2 pct & top loser on positive FTSE midcap index

** Goldman Sachs (GS) takes stock off its pan-European “conviction buy” list, citing revised forecast showing negative underlying growth in H2

** GS says reduces EBIT estimates by 2 pct/3 pct/4 pct for FY15-17E to reflect lower expectations in energy, pure research, and transport segments

** 8 of 15 analysts have revised their EBIT estimates on Spectris over past 30 days with avg revision eroding previous numbers by 4.1 pct, Reuters data shows

** Co makes testing and control equipment for industries like mining, oil and gas, pharmaceuticals and transportation

** Commodity-exposed industrials hit by cut back on spending by global clients, amid volatility in prices of various commodities & concerns of slowdown in China, a large consumer

** More than a tenth of a full day’s avg volume traded through in less than 1 hr of trade

** Stock has lost 19 pct YTD vs over 1 pct gain in broader Stoxx Europe Industrial Goods & Services index< .SXNP>

** Spectris 2nd top loser on the index on Thursday (RM:

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