LONDON (ShareCast) - In light of lowered Chinese GDP forecasts from their economists and data suggesting prolonged weakness in manufacturing activity analysts at Goldman Sachs have reviewed estimates for those industrials stocks most exposed to China.

As well, they point out that heightened risks remain for short term disruption due to credit availability and the regulatory environment in China.

However, they add that while the reduction in estimates is greatest for stocks most exposed to industrials' capital expenditure they also expect relatively robust demand for consumer end-markets as the economy rebalances.

In that same regard, their revised estimates also reflect revisions to their industry positioning analysis for small and mid-cap capital goods firms.

Industry positioning reflects a company’s access to growth and its competitive positioning relative to sector peers.

Four London-listed outfits are amongst those whose price targets have been revised downwards. These are Oxford Instruments (to 1,850p from 2,100p), Spectris (to 2,750 to 2,850p), Domino Printing Sciences (from 825p to 820p), Renishaw (to 1,850 from 2,150) and Rotork (to 3,050 from 3,150).

AB

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