Macquarie Reiterates “Outperform” Rating for South32 Ltd (S32)
South32 Ltd (LON:S32)‘s stock had its “outperform” rating reiterated by Macquarie in a report issued on Friday. They currently have a GBX 156 ($2.03) target price on the stock, down from their prior target price of GBX 200 ($2.60). Macquarie’s price target would suggest a potential downside of 12.24% from the company’s current price.
Other equities research analysts also recently issued reports about the company. HSBC Holdings plc reissued a “buy” rating and set a GBX 205 ($2.66) target price on shares of South32 in a research report on Wednesday, May 3rd. Citigroup Inc. reissued a “buy” rating and set a GBX 190 ($2.47) target price on shares of South32 in a research report on Wednesday, May 3rd. Jefferies Group LLC reissued a “buy” rating and set a GBX 225 ($2.92) target price on shares of South32 in a research report on Monday, May 15th. Finally, Deutsche Bank AG lifted their target price on South32 from GBX 150 ($1.95) to GBX 160 ($2.08) and gave the stock a “hold” rating in a research report on Thursday, June 22nd. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of GBX 172.55 ($2.24).
Shares of South32 (S32) opened at 177.75 on Friday. South32 has a 12 month low of GBX 107.50 and a 12 month high of GBX 188.62. The stock’s 50 day moving average price is GBX 175.64 and its 200 day moving average price is GBX 165.09. The firm’s market cap is GBX 9.41 billion.
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