Broker Peel Hunt upgraded its forecasts and concentrate on price for discoverIE Group PLC () right after the company’s upbeat trading update.

Analysts now expected modified revenue ahead of tax of £29.6mln and earnings for every share of 24.5p, up eight% on their prior forecast.

The broker’s concentrate on price was hiked to 835p from 775p and it reiterated its ‘buy’ recommendation.

With the order guide energy jogging into following yr with superior quality, long-term orders and a a little bit lessen than expected interest demand, revenue forecasts for the following financial yr had been also lifted eight% to £32.3mln.

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