LONDON (ShareCast) - Industrial estates don’t often set the heart racing but Questor in the Telegraph is rather partial to the logistics hubs owned by property firm Segro. The firm has just spent 130m pounds on a portfolio of warehouse estates in Paris and Lyon.

This may look risky in the current euro-infected climate but Segro does seem to have a very clear strategy: sell non-core assets like offices and buy “industrial hubs”. Segro trades on 12.5 times 2012 earnings with a 7% yield. Questor says buy.

AstraZeneca, the FTSE 100 drug giant, is taking a big risk with its part purchase of Amylin Pharmaceuticals, thinks Tempus in The Times. Yes, the firm makes a diabetes drug for which there is a lot of demand but the $3.4bn price tag looks high. The deal is being done in partnership with Bristol-Myers Squibb, together they will pay 11 times total sales for Amylin.

Currently AstraZeneca yields 6.4% but with patents running out of time and the generic manufacturers rubbing their hands at the prospect of cheap production, Tempus says avoid.

Oil player Soco International gets a more positive write up from Tempus. It’s just spent $95m buying out a minority partner in its Vietnam interests but the market appears to think the price is cheap. There is also more production coming on stream at the Te Giac Trang field. The consolidation of the assets and a healthy production profile could well tempt a bidder. Tempus is cautious, but thinks Soco could be worth a buy.


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