Altium investors hunting 'oversold' stocks see opportunity in AG Barr

Published on Monday 13 October 2008 21:53

SCOTS STOCKS

WITH the markets in turmoil and stocks falling indiscriminantly, analysts have been picking shares that they believe have been given the unfair treatment.

Yesterday, Altium plumped for an investment in Irn-Bru maker AG Barr, claiming its 10 per cent fall since buying exotic fruit drinks company Rubicon was "anomalous" as the deal gave the company more sustainable revenue growth prospects. Altium has a 1,400p target price on AG Barr, 30 per cent above the current market value. But shares in the maker of Irn-Bru last night dipped 20p to 1,060p.

Elsewhere, many of the hardest-hit companies of last week bounced back as markets across the world surged on hopes the financial system has been saved. Forth Ports, exposed to property prices and world trade, rose 13.8 per cent to 1,155p. Aberdeen Asset Management gained 16.5p to 115p.

Out of favour was temporary power supplier Aggreko, which dipped 15.25p to 433.75p. Analysts expect the company to provide a reassuring trading update for the third quarter on Thursday.

On Aim, oil and gas company BowLeven climbed 12 per cent to 125p.