Meggitt (MGGT) PT Raised to GBX 450
Meggitt (LON:MGGT) had its target price lifted by investment analysts at Credit Suisse Group from GBX 365 ($4.72) to GBX 450 ($5.83) in a report issued on Wednesday. The brokerage currently has an “underperform” rating on the stock. Credit Suisse Group’s price target points to a potential downside of 17.52% from the company’s previous close.
Other equities research analysts also recently issued research reports about the company. JPMorgan Chase & Co. upped their price objective on Meggitt from GBX 645 ($8.35) to GBX 670 ($8.67) and gave the company an “overweight” rating in a report on Wednesday. Liberum Capital reiterated a “sell” rating on shares of Meggitt in a report on Friday, June 8th. Finally, Berenberg Bank upgraded Meggitt to a “buy” rating in a report on Monday, July 9th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of GBX 522.50 ($6.76).
Meggitt opened at GBX 545.60 ($7.06) on Wednesday, according to Marketbeat Ratings. Meggitt has a 12 month low of GBX 430.90 ($5.58) and a 12 month high of GBX 530 ($6.86).
Meggitt PLC designs and manufactures components and sub-systems for aerospace, defense, energy, medical, industrial, test, and automotive markets in the United Kingdom, rest of Europe, the United States, and internationally. It operates through Meggitt Aircraft Braking Systems, Meggitt Control Systems, Meggitt Polymers & Composites, Meggitt Sensing Systems, and Meggitt Equipment Group segments.
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