UK's Ashtead falls to lowest level in more than two years as profit forecast dims

Ashtead Technology Holdings

17/07/2025 09:18

** Shares of Ashtead Technology ATAS.L down nearly 20% at 357p

** Stock at lowest level since April 2023

** Global subsea equipment rental & solutions provider views full-year adj core profit to be below its previous forecast

** Update indicates Q2 macro pressures, management actions, & FX headwinds to result in FY25-26 rev about 9% below current consensus, say analysts at Peel Hunt

** Peel Hunt cuts PT from 850p to 725p, maintains "buy" on long-term growth fundamentals

** Avg rating from 8 analysts is "buy", median PT is 807.50p - data compiled by LSEG

** As of last close, stock down about 37% YTD

 (Reporting by Ankita Bora in Bengaluru)

 ((Ankita.Bora@thomsonreuters.com))