Melrose plc Rating Lowered to Neutral at Citigroup Inc. (MRO)
Melrose plc (LON:MRO) was downgraded by analysts at Citigroup Inc. from a “buy” rating to a “neutral” rating in a research report issued to clients and investors on Thursday, AnalystRatingsNetwork reports. They currently have a GBX 305 ($4.77) price objective on the stock, up from their previous price objective of GBX 295 ($4.61). Citigroup Inc.’s target price would indicate a potential downside of 2.46% from the company’s current price.
A number of other analysts have also recently weighed in on MRO. Analysts at WH Ireland reiterated an “outperform” rating on shares of Melrose plc (LON:MRO) in a research note to investors on Tuesday. Separately, analysts at UBS AG downgraded shares of Melrose plc (LON:MRO) to a “neutral” rating in a research note to investors on Thursday, September 5th. They now have a GBX 305 ($4.77) price target on the stock, up previously from GBX 300 ($4.69). Finally, analysts at RBC Capital raised their price target on shares of Melrose plc (LON:MRO) from GBX 300 ($4.69) to GBX 325 ($5.08) in a research note to investors on Friday, August 30th. They now have an “outperform” rating on the stock.
Four investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Melrose plc currently has a consensus rating of “Buy” and an average price target of GBX 293.30 ($4.59).
Shares of Melrose plc (LON:MRO) traded down 1.82% on Thursday, hitting GBX 307.00. The stock had a trading volume of 3,515,936 shares. The stock’s 50-day moving average is GBX 0. and its 200-day moving average is GBX 0.. The company’s market cap is £3.888 billion.
Melrose PLC operates through three divisions: Energy, Lifting and Other Industrial. The Energy segment incorporates the Turbogenerators (LON:MRO) and Marelli business units, specialist suppliers of energy industrial products to the worldwide market.
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