I like the look of BOY (bodycote)looks like a good trading set up here with a rising trend channel. Manufacturers doing well from figures yesterday aswell.



Longer term chart

Intraday we look like we are about to have hit support and start again on the ladder up.

Its very interesting to see what 2 brokers have recently pencilled in for this going forward.

Bodycote PLC

FORECASTS 2010 2011
Date Rec Pre-tax () EPS (p) DPS (p) Pre-tax () EPS (p) DPS (p)

Arbuthnot Securities
01-12-10 BUY 41.20 16.40 8.30 60.50 24.00 9.00

Panmure Gordon
01-12-10 BUY 46.40 18.30 8.30 67.50 26.60 9.13


2010 2011
Pre-tax () EPS (p) DPS (p) Pre-tax () EPS (p) DPS (p)

Consensus 41.69 16.41 8.30 55.12 21.66 8.65
1 Month Change 1.11 0.45 0.00 1.11 0.46 0.00
3 Month Change 5.88 2.36 0.00 6.80 2.70 0.05


GROWTH
2009 (A) 2010 (E) 2011 (E)

Norm. EPS -72.15% 47.86% 31.99%
DPS 3.75% 0.00% 4.19%

INVESTMENT RATIOS
2009 (A) 2010 (E) 2011 (E)

PER 24.32x 16.45x 12.46x
PEG -0.34f 0.34f 0.39f
Net Asset Value PS 160.23p 230.74p 241.51p

An impressive NAV of 241.51p underpining the stock and a forward P/E of just over 12 for 2011 coupled with 21.66p eps for the same period.

Im looking at this and thinking its too cheap and is a buy.

Broker BUY update with a SP target of 340p.

07-Dec-10 Bodycote BOY Arbuthnot Securities Buy 278.70p 325.00p 340.00p

Broker upgrade today..

Bodycote FTSE 250 Industrial buy 350 286.4 22.2% Evolution Securities

SP target 350p, 22.2% upgrade.

Bodycote +44pc

Engineer Bodycote posted a 68pc rise in pre-tax profits to £76m for 2011, and its share price is following that growth.

The group specialises in using heat treatment to improve the characteristics of metals, extending the life of machinery parts such as jet engine turbine blades. Bodycote, which was initially founded as a textile business, has found its skills in demand from the booming automotive and aerospace sectors and is benefiting from chief executive Stephen Harris’s decision to focus on higher-margin contracts.

Mr Harris is also expanding the company in the US, and has bought the heat treatment business of Curtiss Wright for more than £30m.

Bodycote headline pre-tax profits up 12%
StockMarketWire.com
Bodycote unveils a strong first half performance despite currency headwind and weakened demand in the eurozone economies.

Revenues rose to £301.3m from £288.2m with headline pre-tax profits up 12% at £45.7m.

Net debt fell to £16.7m from £33.7m and basic headline earnings per share fore by 13% to 18.3p.

The interim dividend of 4.0p per share is 11.1% up on last time.

Chief executive Stephen Harris said: "Looking forward into the second half, growth in aerospace and energy together with new technologies, is expected to counteract the effect of slowing economies.

"The board remains confident that the ongoing execution

FTSE 250 movers: Bodycote provides warm glow
Sharecast – 15 hours ago.. .

LONDON (ShareCast) - Investec (EUREX: INVF.EX - news) raised its target price on Bodycote (LSE: BOY.L - news) from 400p to 410p after the world's largest thermal processing services provider bragged of sales momentum in October and thus far in November (Xetra: A0Z24E - news) .

Unhelpful exchange rate fluctuations have put the brakes on revenue growth in the second half of the year, however; in actual terms, revenue in the period from the beginning of July to the end of October was up 2.9%, but at constant exchange rates it was more a far more impressive 7.6%.

Organic growth accounted for 2.6 percentage points on the constant currency revenue growth, with the rest coming from acquisitions

Sold my holding

Anyone have a position in this company. I think it is about to be pushed by one of the best tip sheets! The only thing I do not like is the director share sales.
Opionions anyone???