One to watch

BALFOUR Beatty has been selected, as part of a joint venture, to provide construction services for Dallas Fort Worth Airport's terminal development programme. It has also been appointed as preferred bidder for a PPP contract valued at about 47 million by North West Fire and Rescue Services in England and has been awarded support services work valued at about 200m from the Highways Agency, Yorkshire Water and Anglian Water. Shares have edged higher in recent weeks, but does it fully reflect the progress made by the firm?

Balfour Beatty has diversified internationally in recent years and the acquisition of US-based Parsons Brinckerhoff for 420m last year should transform its capabilities in professional services.

I consider the full potential of the acquisition will only be appreciated when evidence emerges that other divisions win business as a result of the work carried out by Parsons.

Despite the recent upturn seen in the share price, I consider that the shares have further to run.

The value of your investments may fall and you may get back less than you invested. This does not constitute investment advice and you should take professional advice regarding the suitability of this company for your portfolio.

ASOS

554p +31p

Broker says HOLD

SHARES in online clothing retailer Asos have risen 20 per cent in the past three months, Seymour Pierce noted.

The broker added: "The trading update was broadly in line with market expectations. For the time being, we are keeping our 'hold' recommendation, although we believe there will be some profit-taking in the short term."

Britvic

478.4p +5.3p

Broker says BUY

EVOLUTION has raised its target price on Britvic from 475p to 525p. The broker said: "We have upgraded our 2011 and beyond forecasts to reflect the impact of the Compass supply contract and improving margin prospects, as Britvic continues to announce distribution gains."