Report
Jeffrey Vonk
EUR 101.80 For Business Accounts Only

We lower our FVE to GBX 120 on lower fixed-price contract profitability for KC-46 tanker programme.

Cobham's string of profit warnings continued with the announcement that the company will take a charge for project cost overruns, including on the KC-46 tanker programme. New CEO David Lockwood is expecting the firm's 2016 trading profit performance to be GBP 225 million, below the GBP 245 million mark that was set out on Jan. 11, and also below our expectation of GPB 231 million. However, several adjustment factors such as business restructuring, currency derivative adjustments, amortization of...
Underlying
Cobham plc

Cobham provides technologies and services across its defense, aerospace and space markets. Co. has four sectors: Communications and Connectivity, which provides equipment and solutions to enable connectivity across a range of environments in aerospace, avionics, satellite and radio, wireless and mobile connectivity markets; Mission Systems, which provides safety and survival systems, aerial refueling systems and wing-tip to wing-tip mission systems; Advanced Electronic Solutions, which provides solutions for communication on land, sea, in the air and in space through off-the-shelf and customized products; and Aviation Services, which provides outsourced aviation services.

Provider
Morningstar
Morningstar

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.

Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.

We have operations in 27 countries.

Analysts
Jeffrey Vonk

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