Electrocomponents plc (ECM) Upgraded to “Buy” by HSBC
HSBC upgraded shares of Electrocomponents plc (LON:ECM) to a buy rating in a research note published on Wednesday. HSBC currently has GBX 430 ($5.37) price target on the stock, up from their prior price target of GBX 240 ($3.00).
A number of other equities research analysts have also recently weighed in on the company. Numis Securities Ltd cut Electrocomponents plc to an add rating and upped their price objective for the stock from GBX 315 ($3.94) to GBX 350 ($4.37) in a research note on Thursday, September 15th. Credit Suisse Group AG upped their price objective on Electrocomponents plc from GBX 250 ($3.12) to GBX 300 ($3.75) and gave the stock an underperform rating in a research note on Tuesday, September 20th. Royal Bank Of Canada upped their target price on Electrocomponents plc from GBX 280 ($3.50) to GBX 350 ($4.37) and gave the company a sector perform rating in a research report on Thursday, October 13th. Shore Capital reaffirmed a sell rating on shares of Electrocomponents plc in a research report on Wednesday, July 20th. Finally, Peel Hunt upped their target price on Electrocomponents plc from GBX 260 ($3.25) to GBX 315 ($3.94) and gave the company a hold rating in a research report on Thursday, September 15th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the stock. Electrocomponents plc has a consensus rating of Hold and an average target price of GBX 334.88 ($4.18).
Electrocomponents plc (LON:ECM) traded down 0.43% during midday trading on Wednesday, reaching GBX 370.00. The company had a trading volume of 1,157,563 shares. The company’s market capitalization is GBX 1632.73 billion. Electrocomponents plc has a 1-year low of GBX 200.70 and a 1-year high of GBX 386.40. The firm has a 50-day moving average of GBX 363.39 and a 200 day moving average of GBX 306.12.
About Electrocomponents plc
Electrocomponents plc is a service distributor. The Company’s segments include Northern Europe, Southern Europe, Central Europe, Asia Pacific (APAC) and Emerging Markets, and North America. Its Northern Europe’s hub is the United Kingdom, with associated local markets in Denmark, Norway, Sweden and Republic of Ireland.
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