{"id":53624,"date":"2014-07-03T03:21:21","date_gmt":"2014-07-03T07:21:21","guid":{"rendered":"http:\/\/countingpips.com\/?p=53624"},"modified":"2014-07-03T03:21:21","modified_gmt":"2014-07-03T07:21:21","slug":"why-the-worleyparsons-ltd-share-price-rallied-today","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2014\/07\/why-the-worleyparsons-ltd-share-price-rallied-today\/","title":{"rendered":"Why the WorleyParsons Ltd Share Price Rallied Today"},"content":{"rendered":"
July 3, 2014<\/div>
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By MoneyMorning.com.au<\/u><\/a><\/p>\n

What happened to the WorleyParsons Ltd Share Price?<\/h2>\n

\nShares in resource engineering contractor WorleyParsons Ltd [ASX:WOR]<\/b> soared by more than 6% today, racing ahead of a bullish Australian stock market<\/a>. After an ordinary past six months, WorleyParsons shares are inching back towards the levels they enjoyed prior to November\u2019s shock profit downgrade.\n<\/p>\n

Why did this happen to the WorleyParsons Share Price?<\/h2>\n

\nWith no major announcements from the company over the past few days, today\u2019s price action shows how influential certain analyst\u2019s reports can be. This morning investment bank Bank of America Merrill Lynch upgraded its recommendation on WorleyParsons from \u2018Neutral\u2019 to \u2018Buy\u2019.<\/p>\n

In short, BAML views WorleyParsons shares as far too cheap considering the company\u2019s growth prospects. BAML is pointing out WorleyParsons\u2019 potential to improve its profit margins and highlighting the greater reliance that oil and gas companies will have on firms like WorleyParsons to deliver more complex projects. With the business generating a tonne of free cash flow, there\u2019s plenty of scope for pleasant dividend surprises.<\/p>\n

Professional investors have given this report the biggest tick possible: they\u2019re buying the shares today and pushing up the WOR stock price.\n<\/p>\n

What now for WorleyParsons Ltd?<\/h2>\n

\nWith WorleyParsons shares still significantly lower over the past 12 months, let alone relative to 2007\u2019s all-time high, there\u2019s no denying the company looks relatively cheap.<\/p>

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If WorleyParsons\u2019 full year result lifts investor confidence that BAML\u2019s predictions are achievable, then there\u2019s every chance the shares could continue to rise in value.\n<\/p>\n

Tim Dohrmann+<\/a>
\n Small-Cap Analyst, Money Morning<\/em><\/strong><\/p>\n

Join Money Morning on Google+ <\/u><\/a><\/strong><\/p>\n

The post Why the WorleyParsons Ltd Share Price Rallied Today<\/a> appeared first on Stock Market News, Finance and Investments | Money Morning Australia<\/a>.<\/p>\n

\n<\/img><\/a> <\/img><\/a> <\/img><\/a>\n<\/div>\n


\nBy MoneyMorning.com.au<\/u><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

By MoneyMorning.com.au What happened to the WorleyParsons Ltd Share Price? Shares in resource engineering contractor WorleyParsons Ltd [ASX:WOR] soared by more than 6% today, racing ahead of a bullish Australian stock market. After an ordinary past six months, WorleyParsons shares are inching back towards the levels they enjoyed prior to November\u2019s shock profit downgrade. Why […]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-53624","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/53624","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/comments?post=53624"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/53624\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=53624"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=53624"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=53624"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}