Shore Capital Reiterates “Sell” Rating for Electrocomponents plc (ECM)
Electrocomponents plc (LON:ECM)‘s stock had its “sell” rating reissued by analysts at Shore Capital in a research note issued on Friday.
Several other brokerages also recently weighed in on ECM. Citigroup Inc. upgraded Electrocomponents plc to a “neutral” rating and raised their price objective for the stock from GBX 185 ($2.31) to GBX 375 ($4.69) in a research report on Wednesday, October 12th. Credit Suisse Group AG lifted their price objective on shares of Electrocomponents plc from GBX 220 ($2.75) to GBX 250 ($3.12) and gave the stock an “underperform” rating in a report on Wednesday, August 10th. Numis Securities Ltd cut shares of Electrocomponents plc to an “add” rating and upped their target price for the company from GBX 315 ($3.94) to GBX 350 ($4.37) in a research report on Thursday, September 15th. Peel Hunt upped their target price on shares of 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. Finally, HSBC raised shares of Electrocomponents plc to a “buy” rating and upped their target price for the company from GBX 240 ($3.00) to GBX 430 ($5.37) in a research report on Wednesday. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of GBX 348 ($4.35).
Electrocomponents plc (LON:ECM) opened at 433.80 on Friday. The firm has a 50-day moving average of GBX 364.20 and a 200-day moving average of GBX 306.56. The firm’s market cap is GBX 1.91 billion. Electrocomponents plc has a 52-week low of GBX 200.70 and a 52-week high of GBX 443.60.
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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