J P Morgan Chase & Co Raises Meggitt plc (MGGT) Price Target to GBX 600
Meggitt plc (LON:MGGT) had its price target boosted by J P Morgan Chase & Co from GBX 500 ($6.49) to GBX 600 ($7.79) in a research note issued to investors on Wednesday. The brokerage currently has a buy rating on the stock.
Other equities analysts also recently issued research reports about the stock. Deutsche Bank AG decreased their price objective on shares of Meggitt plc from GBX 460 ($5.97) to GBX 450 ($5.84) and set a hold rating for the company in a report on Wednesday, August 2nd. Goldman Sachs Group, Inc. (The) reaffirmed a neutral rating and issued a GBX 457 ($5.93) price objective on shares of Meggitt plc in a report on Thursday, June 22nd. Citigroup Inc. reaffirmed a neutral rating and issued a GBX 500 ($6.49) price objective on shares of Meggitt plc in a report on Friday, May 12th. Barclays PLC reaffirmed an overweight rating and issued a GBX 540 ($7.01) price objective on shares of Meggitt plc in a report on Wednesday, May 3rd. Finally, Liberum Capital reaffirmed a sell rating and issued a GBX 375 ($4.87) price objective on shares of Meggitt plc in a report on Monday, August 7th. Four analysts have rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the company. The stock presently has an average rating of Hold and an average target price of GBX 463.36 ($6.02).
Shares of Meggitt plc (LON:MGGT) opened at 506.00 on Wednesday. Meggitt plc has a 52-week low of GBX 407.40 and a 52-week high of GBX 517.50. The company’s 50-day moving average is GBX 497.73 and its 200-day moving average is GBX 473.69. The stock’s market cap is GBX 3.92 billion.
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The business also recently disclosed a dividend, which will be paid on Friday, September 29th. Investors of record on Thursday, September 7th will be paid a dividend of GBX 5.05 ($0.07) per share. This represents a dividend yield of 1.01%. The ex-dividend date of this dividend is Thursday, September 7th.
Meggitt plc Company Profile
Meggitt PLC is an engineering company. The Company designs and manufactures high performance components and sub-systems for aerospace, defense and other specialist markets, including energy, medical, industrial, test and automotive. The Company’s segments are Meggitt Aircraft Braking Systems (MABS), Meggitt Control Systems (MCS), Meggitt Polymers & Composites (MPC), Meggitt Sensing Systems (MSS) and the Meggitt Equipment Group (MEG).
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