Ashtead (AHT) - The recovery continues

Panmure Gordon issued a "buy" note on the shares of equipment hire firm Ashtead Group, setting a price target of 220p. Some analysts have commented recently that the company's share price was poised to jump in 2006 due to a robust non-residential construction market in the US. Despite the positive stance from Panmure, the broker tempered its position with its accompanying commentary, reducing its EPS forecasts for 2006 and 2007 by 10% to 13.6p and 14.4p respectively. Ashtead shares were un changed at 178.5p.