Mondi Plc (MNDI) Cut to Neutral at JPMorgan Chase & Co.
Mondi Plc (LON:MNDI) was downgraded by research analysts at JPMorgan Chase & Co. to a “neutral” rating in a research note issued to investors on Friday. They currently have a GBX 1,740 ($21.53) price target on the stock, up from their prior price target of GBX 1,640 ($20.30). JPMorgan Chase & Co.’s price objective would suggest a potential upside of 8.89% from the company’s previous close.
Several other brokerages have also recently issued reports on MNDI. Credit Suisse Group AG restated an “outperform” rating and set a GBX 1,880 ($23.27) price objective on shares of Mondi Plc in a research note on Tuesday, August 30th. Goodbody restated a “hold” rating on shares of Mondi Plc in a research note on Tuesday, July 26th. Deutsche Bank AG restated a “buy” rating on shares of Mondi Plc in a research note on Thursday, August 11th. Jefferies Group restated a “buy” rating and set a GBX 1,800 ($22.28) price objective on shares of Mondi Plc in a research note on Monday, September 12th. Finally, Goldman Sachs Group Inc. upgraded Mondi Plc to a “neutral” rating and increased their price target for the stock from GBX 1,250 ($15.47) to GBX 1,290 ($15.97) in a research report on Friday, July 1st. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the company. Mondi Plc currently has an average rating of “Buy” and an average target price of GBX 1,667.22 ($20.63).
Shares of Mondi Plc (LON:MNDI) opened at 1598.00 on Friday. The firm’s 50-day moving average price is GBX 1,611.22 and its 200-day moving average price is GBX 1,443.31. Mondi Plc has a 52-week low of GBX 1,108.00 and a 52-week high of GBX 1,702.00. The stock’s market capitalization is GBX 7.74 billion.
In other news, insider Carol Hunt purchased 18 shares of the firm’s stock in a transaction on Friday, October 7th. The stock was purchased at an average cost of GBX 1,686 ($20.87) per share, with a total value of £303.48 ($375.59).
About Mondi Plc
Mondi plc is a United Kingdom-based packaging and paper company. The Company is engaged in managing forests and producing pulp, paper and compound plastics for industrial and consumer packaging. The Company and Mondi Limited, under a dual listed company (DLC) structure, operate together as a single economic entity.
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