Skellerup shares rise to four-month high on earnings outlook, Craigs upgrades stock to buy

Fri, 23 Aug 2013

By Tina Morrison Aug 23 (BusinessDesk) – Shares in Skellerup Holdings rose to a four-month high after the company yesterday beat its 2013 profit guidance and signalled higher earnings in the coming year, prompting brokerage Craigs Investment Partners to upgrade its rating to ‘buy’. Shares in the industrial rubber goods manufacturer jumped 4.3 percent to $1.47, their highest since May 1. Craigs upgraded its earnings forecasts for Skellerup for the next three years, increased its 12-month target price to $1.67 from $1.44 and raised its recommen...

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