FTSE 250 watch: Synergy Healthcare share price up on contract wins

on Dec 16, 2013
Updated: Oct 21, 2019
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iNVEZZ.com, Monday, December 16: The UK mid-cap equity index, the FTSE 250 (INDEXFTSE:MCX) has edged up today with investors weighing prospects for a possible reduction of stimulus by the Federal Reserve this week and new data showing weaker-than-expected manufacturing activity in China in November and stronger-than-forecast expansion of business activity in the Eurozone.

**The FTSE 250 was 0.62 percent up to 15,328.33 as of 14:22 UTC.**
Synergy Healthcare (LON:SYR) was 6.29 percent higher at 1,098p as of 12:41PM UTC after the company offering specialist outsourced services to healthcare providers announced six contract wins in the Americas Region that add a total of £230 million to its order book. Canaccord Genuity today upgraded its rating for Synergy Health from ‘sell’ to ‘hold’, saying that the company’s new contracts increase the revenue visibility and should drive organic growth. Analyst Julie Simmonds commented: “Since today’s announcement reduces the risk to forecasts and gives greater visibility to growth we increase our … target price to 979p (previously 891p).” Analysts at Investec today reaffirmed their “buy” rating on Synergy Healthcare’s stock with a target price of 1,165p.

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**Perform Group’s share price continues recovering**

Perform Group (LON:PER) has continued to recover from last week’s drop prompted by a profit warning (FTSE 250 watch: Perform Group leads fall in UK mid-cap index). Shares in the digital sports media company have risen 5.60 percent to 227.04 p as of 13:26 UTC. On Friday, analysts at Credit Suisse cut their target price for Perform Group’s stock to 246p from 570p with an “outperform” rating. Also on Friday, analysts at Numis Securities reiterated their “add” rating on the stock with a target price of 213p.

**RPC share price gains on acquisition of Maynard & Harris**
Shares in RPC Group (LON:RPC) were 3.21 percent higher at 547p as of 13:32 UTC after the plastic packaging manufacturer said it has acquired personal care, healthcare and food packaging business Maynard & Harris (M&H) for £103.5 million. “M&H will operate as an independent business within RPC’s Bramlage cluster and will enhance the Group’s leading personal care product offering in the UK, mainland Europe and the US,” RPC said today in a statement. “The acquisition of M&H represents an important step in realising RPC’s strategy of selective consolidation in Europe and the creation of a meaningful presence outside of Europe,” said Pim Vervaat, PRC’s Chief Executive. Following the announcement, equity analysts at Panmure Gordon raised their price objective on RPC Group’s shares to 655p from 584p with a “buy” rating on the stock.

**UBM shares drops despite upbeat trading update**
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