IMI: soars 4%, as analyst upgrades to buy.

(CercleFinance.com) - The IMI share is soaring 4% on the London Stock Exchange today, while Credit Suisse has returned to a buy rating on the British engineering group's stock, also increasing its target price from 1,020 pence to 1,220 pence.


The analysis says that nearly 60% of the markets on which the engineering group operates remain depressed.

Although the trend seems to be improving, Credit Suisse expects the group to report like-for-like sales growth as from 2017.

The move is expected to accelerate in 2018 and be accompanied by savings efforts: next year, IMI's margins could pleasantly surprise the market, the broker forecasts.

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