LONDON (ShareCast) - (Sharecast News) - Analysts at Berenberg upped their target price on manufacturing and research company Oxford Instruments from 2,930.0p to 3,100.0p on Thursday, stating that the group was "graduating at the top of the class".
Berenberg said it had recently argued that consensus forecasts for Oxford Instruments' second half were "clearly too low" and that investors should expect "significant upgrades" to near-term estimates.

Well, Berenberg declared last week's trading update was evidence of this, with the company announcing that it had delivered 22% year-on-year revenue growth, with flat year-on-year operating margins, suggesting a 12% beat to its prior estimates.

While we await further details on performance from the company's full-year results in June, this represents another excellent year of progress and earnings growth for OI," said the German bank, which stood by its 'buy' rating on the stock.

"With future forecasts still conservatively set, significant exposure to structural growth markets including life sciences, compound semiconductors, advanced materials analysis and quantum technology - as well as an improving mix towards faster growing segments within the group - we expect further periods of strong earnings growth and momentum over the coming years."





Reporting by Iain Gilbert at Sharecast.com

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