Meggitt (MGGT) Price Target Increased to GBX 700 by Analysts at JPMorgan Chase & Co.

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Meggitt (LON:MGGT) had its price target lifted by analysts at JPMorgan Chase & Co. from GBX 670 ($8.75) to GBX 700 ($9.15) in a research report issued on Wednesday, October 17th. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.’s price target indicates a potential upside of 38.01% from the company’s previous close.

A number of other equities research analysts have also issued reports on the company. Deutsche Bank raised their price target on Meggitt from GBX 482 ($6.30) to GBX 515 ($6.73) and gave the stock a “hold” rating in a research note on Friday, August 10th. Barclays lowered Meggitt to an “equal weight” rating and set a GBX 550 ($7.19) price target for the company. in a research note on Monday, August 13th. Credit Suisse Group raised their price target on Meggitt from GBX 365 ($4.77) to GBX 450 ($5.88) and gave the stock an “underperform” rating in a research note on Wednesday, August 8th. Finally, Berenberg Bank raised Meggitt to a “buy” rating in a research report on Monday, July 9th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of GBX 532 ($6.95).

LON MGGT traded down GBX 5.40 ($0.07) during trading on Wednesday, hitting GBX 507.20 ($6.63). 1,195,297 shares of the stock traded hands, compared to its average volume of 3,380,000. Meggitt has a 12-month low of GBX 430.90 ($5.63) and a 12-month high of GBX 530 ($6.93).

In other news, insider Philip Ernest Green bought 272 shares of the firm’s stock in a transaction on Tuesday, August 14th. The stock was acquired at an average cost of GBX 551 ($7.20) per share, with a total value of £1,498.72 ($1,958.34).

Meggitt Company Profile

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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Analyst Recommendations for Meggitt (LON:MGGT)

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