TI Fluid Systems PLC (LSE:TIFS) soared 17% higher as the in-car coolant and fuel lines engineer sped past first-half forecasts for revenues and margins.
Underlying profits [adjusted EBIT] of €131.9 million and a margin of 7.5% compared to broker Peel Hunt’s forecast of €105 million and 6.0%, with the broker upping its target price to 270p from 185p as a result.
“TIFS is back on track for delivering a sustainable premium margin, outperforming underlying GLVP and generating strong cash flow. Within this is an evolving and winning EV strategy,” it said.
Shares jumped 20.4p to 150.2p.