Halma
Club members who bought Halma on our recommendation at 119p back in February have probably not been too excited by the performance of the shares, which fell to 85p at one point in the Spring. However, help could be at hand.
There was nosey buying of Halma shares last week, pushing them up to 107p. Capitalised at £380 million, Halma is at the high-tech end of engineering, producing clever detection and safety equipment. It would appeal to all manner of predators.
The last set of figures reflected some big exceptional charges. But on consensus forecasts for the current year the shares sell for about 12 times earnings - so there is no discernable bid premium in the current price. At the last count, Halma had net cash of £7 million. With mounting rumours of a deal around the corner, there looks to be little downside and a lot of potential upside. Buy.
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