EN­ERGY BRO­KER UTILITYWISE

Shares - - WEEK AHEAD -

(UTW:AIM) re­leases its full year re­sults on 17 Oc­to­ber. The com­pany’s share price has been weak lately which sug­gests the market is still ex­pect­ing more bad news.

We note that Pan­mure Gor­don an­a­lyst Michael Don­nelly in Au­gust raised his rat­ing on the stock to ‘buy’ for the first time in more than two years. He had cor­rectly spot­ted the com­pany’s ag­gres­sive ac­count­ing tech­niques which ul­ti­mately contributed to a large re­duc­tion in the value of the shares.

Don­nelly says a po­ten­tially valu­able busi­ness may now emerge ‘as the fog of over­stated earn­ings be­gins to clear’.

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