The Worleyparsons Limited (ASX: WOR) share price has been one of the best performers on the market today.
As we approach the market close, the engineering company's shares are up almost 8% to $11.69.
Why have its shares jumped?
With no news out of the company, today's gain is likely to be attributable to a broker note out of Deutsche Bank this morning.
According to the note, Deutsche has reiterated its buy rating and $13.74 price target on its shares.
Analysts at the investment bank appear bullish on the engineering company's prospects thanks partly to signs of a recovery in oil and gas capital expenditures.
Deutsche's price target equates to potential upside of 17.5% from the current share price. Not bad considering its shares have already gained 49% in the last 12 months.
The shares of rival Monadelphous Group Limited (ASX: MND) have also been amongst the best performers in the last 12 months, rising over 70%.
