Although the value of shares in building materials group, Kingspan, has increased by 17 per cent since the end of March - when they were labelled a strong buy by Davy - the broker is still rating them as a buy.

Davy points out that the group continues to record strong earnings growth on the back of both organic expansion and well-targeted acquisitions.

The same broker believes that the outlook for the sanitary ware company, Qualceram, remains positive with Irish consumer spending and construction activity continuing to grow at a rapid pace.

It says that earnings multiples of 10.1 for this year and 8.9 for next represent good value for a stock which has a track record of uninterrupted growth over the past decade.