Emeco (EHL) Shares Tip

Emeco (EHL) have a Buy 2 shares recommendation and a share price target of $2.30 from stock analyst UBS. Emeco has made a small European acquisition announcing the purchase of Euro Machinery and Euro Rental for e6.4m, of which e2.0m will be satisfied by scrip with the remainder paid in cash. The two businesses are involved in heavy equipment trading and rental respectively. A year ago EHL opened a procurement facility in Rotterdam. Todays' acquisition gives the group a vertically integrated procurement, trading and rental business in central Europe which we suspect can be grown rather quickly. While the impact on near term earnings is likely to be negligible we believe that this creates a sensible base for expanding into Europe. A previous Emeco (EHL) stock recommendation.

Emeco Holdings Limited is listed on the Australian Stock Exchange (ASX) under stock code EHL. You can view their investor website here. EHL was listed on the ASX on 28 July, 2006. Alec Brennan is the Chairman of Emeco and Laurie Freedman the Managing Director. Emeco is involved in selling, renting and maintaining heavy moving equipment to customers in the mining industry in Australia and overseas. Find out the meaning of the recommendations in this primer. You can use Instalment Warrants to trade EHL. Browse for other broker recommendations. Check your charts and good luck with your share trading!