Deutsche Bank Reiterates “Buy” Rating for Melrose Industries (MRO)
Melrose Industries (LON:MRO)‘s stock had its “buy” rating reaffirmed by research analysts at Deutsche Bank in a research report issued to clients and investors on Wednesday.
A number of other analysts also recently issued reports on the stock. Peel Hunt reiterated a “buy” rating on shares of Melrose Industries in a report on Tuesday. JPMorgan Chase & Co. lifted their price objective on shares of Melrose Industries from GBX 280 ($3.66) to GBX 285 ($3.72) and gave the company an “overweight” rating in a report on Thursday, October 18th. Barclays lowered their price objective on shares of Melrose Industries from GBX 260 ($3.40) to GBX 250 ($3.27) and set an “overweight” rating on the stock in a report on Monday, October 15th. Finally, UBS Group lifted their price objective on shares of Melrose Industries from GBX 250 ($3.27) to GBX 270 ($3.53) and gave the company a “buy” rating in a report on Tuesday, September 4th. Nine research analysts have rated the stock with a buy rating, The company currently has an average rating of “Buy” and a consensus price target of GBX 266.11 ($3.48).
LON MRO opened at GBX 175.10 ($2.29) on Wednesday. Melrose Industries has a 12-month low of GBX 2.13 ($0.03) and a 12-month high of GBX 261.90 ($3.42).
In other news, insider Justin Dowley bought 9,531 shares of the stock in a transaction that occurred on Wednesday, October 17th. The shares were acquired at an average cost of GBX 174 ($2.27) per share, for a total transaction of £16,583.94 ($21,669.85). Also, insider Charlotte Twyning bought 36,000 shares of the stock in a transaction that occurred on Wednesday, October 3rd. The shares were purchased at an average price of GBX 197 ($2.57) per share, for a total transaction of £70,920 ($92,669.54).
About Melrose Industries
Melrose Industries PLC, together with its subsidiaries, designs and manufactures electricity generating equipment for the power generation, industrial, oil and gas, and offshore sectors in the United Kingdom, Europe, North America, and internationally. It operates through four segments: Energy, Air Management, Security & Smart Technology, and Ergonomics.
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