Spirax-Sarco Engineering Lowered to “Neutral” at Citigroup Inc. (SPX)
Spirax-Sarco Engineering (LON:SPX) was downgraded by research analysts at Citigroup Inc. from a “buy” rating to a “neutral” rating in a report released on Thursday, ARN reports. They currently have a GBX 3,040 ($47.53) price objective on the stock, up from their previous price objective of GBX 2,905 ($45.42). Citigroup Inc.’s price target suggests a potential downside of 1.36% from the company’s current price.
Other equities research analysts have also recently issued reports about the stock. Analysts at Investec reiterated a “hold” rating on shares of Spirax-Sarco Engineering (LON:SPX) in a research note to investors on Thursday, August 8th. They now have a GBX 3,050 ($47.69) price target on the stock, up previously from GBX 2,800 ($43.78). Separately, analysts at Numis Securities Ltd reiterated an “add” rating on shares of Spirax-Sarco Engineering (LON:SPX) in a research note to investors on Thursday, August 8th. They now have a GBX 3,200 ($50.03) price target on the stock. Finally, analysts at JPMorgan Chase & Co. reiterated an “overweight” rating on shares of Spirax-Sarco Engineering (LON:SPX) in a research note to investors on Thursday, August 8th. They now have a GBX 3,375 ($52.77) price target on the stock, up previously from GBX 3,250 ($50.81).
Eight equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of GBX 2,633.92 ($41.18).
Spirax-Sarco Engineering (LON:SPX) traded down 2.14% on Thursday, hitting GBX 3016.00. The stock had a trading volume of 155,905 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 £2.258 billion.
Spirax-Sarco Engineering plc is a United Kingdom-based industrial engineering company. It comprises the two businesses: Spirax Sarco for steam specialties and Watson-Marlow for peristaltic and pumps.
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