Tuesday tips round-up: Easyjet, Goals Soccer, CWW...

Even though a number of holiday companies have issued profits warnings in recent weeks, easyJet has seen its passenger traffic increase, and yesterday reported that the number of passengers taking its planes last month increased by 8.4% compared to August last year.

But there's a fly in the ointment: boardroom upheaval. Back in June, Sir Stelios Haji-Ioannou, easyJet's founder who still owns a big chunk of the company, went to the High Court accusing management of a string of bad decisions. easyJet is in a stronger position than most airlines and for that reason hold, but don't buy any more says the Independent.

Kofax was cautious about the outlook with revenue growth expected to slow in the software division to about 10% (from in excess of 25%). Economic uncertainties were cited and the forecast gives management room to outperform, but trading on about 18 times next year's forecast earnings take profits says the Independent.

Goals Soccer Centres shares now look relatively cheap as they trade on a 2011 multiple of just 8 times forecast earnings. At the current valuation investors will hit the back of the net. So buy says the Independent.

At their present level, Cable & Wireless Worldwide shares are on about nine times this year's earnings to next March and yield more than 6%. But last year's dividend payment was guaranteed by the former parent. CWW has indicated the payment will be maintained in the current year but will have to motor to ensure this is fully covered. Thereafter, the payment could be at risk. A bid looks unlikely, for the above reasons; lock in profits and sell says the Times.

Titan Europe makes vast wheels and undercarriage assemblies for trucks, cranes and other off-highway vehicles. Spun out of America's Titan Inc in 2004, it was hard hit by the onset of the recession, the shares worth a smidgeon more than 7p at the end of 2008. Since then they have recovered strongly, approaching 80p before yesterday's interims triggered some profit-taking. The improvement is coming from Germany and Brazil, but American construction remains a dog. For now, well up with events says the Times.


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