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Leisure software outfit Alphameric appeals to Investec analyst Gareth Evans after it raised around £8 million to invest in joint ventures with a major player in the horse racing industry and a broadcasting group. Profit forecasts for 2006 and 2007 were downgraded to £3.7 million and £2.6 million, however, because of ‘a slightly more cautious view on the hospitality market outlook’. But a buy recommendation was retained on the view that the recently weak price ‘offers significant upside once the group is able to give further details on the agreements it hopes to sign’.

Another to receive the Evans seal of approval is Vislink, the fully listed supplier of microwave radio and satellite transmission products. After a positive trading statement, Investec’s forecasts get a slight upward tweak and the company now trades around 12.1 times predicted full year earnings.

Over in the food sector, Zetar released a maiden set of full year results in line with expectations. Analyst Nicola Mallard holds her forecasts steady, adding that although a p/e of 12.3 is in line with the sector average, she expects Zetar ‘to show superior growth as its acquisition strategy supplements organic progress.’

Finally, the broker has no hesitation in recommending corporate client Sportingbet as a strong buy in a sector where US regulatory issues have recently weighed, arguing the recent US Department of Justice actions against BetOnSports ‘are firm-specific’. A pre-close update confirmed that trading was in line with management expectations and Investec’s forecasts of £99.7 million PBT and 22.6p EPS remain unchanged.