Daily FNArena News - Small Caps

A history of solid earnings growth and rising dividends and expectations of more of the same sees DJ Carmichael initiate coverage on Lycopodium with a Buy rating.

Phosphagenics continues to develop its TPM drug patch delivery technology and Bell Potter sees this as a key advantage for the company in breaking into sizable markets.

REVA Medical has seen the timeline for starting clinical trials of its bioresorbable stent slip but Bell Potter says any associated share price weakness would be a buying opportunity.

A profit result better than guidance and expectations of further growth lead Microequities to retain a Strong Buy rating on IT junior BigAir.

A well received full year profit result and a solid growth outlook suggest value in Tox Free Solutions at current levels.

While full year earnings met expectations a tough operating environment means limited shorter-term earnings growth for Peet, but brokers continue to see value.

Drilling fluids and services group Imdex posted a solid full year earnings result but BA Merrill Lynch has downgraded to a Neutral rating as weaker equity markets may impact on exploration spending.

With Nomad Building Solutions struggling to return to profitability and offering limited earnings visibility RBS has ceased coverage on the stock.

A solid full year result from Flexigroup and enough confidence to guide to earnings growth in FY12 sees brokers retain Buy ratings.

Following a meeting with management Moelis has reiterated a Buy rating on Thorn Group.