Morgan Stanley Reiterates “Overweight” Rating for Imagination Technologies Group (IMG)
Imagination Technologies Group (LON:IMG)‘s stock had its “overweight” rating reaffirmed by research analysts at Morgan Stanley in a report released on Friday, Stock Ratings Network reports. They currently have a GBX 450 ($7.04) price target on the stock. Morgan Stanley’s price objective would suggest a potential upside of 46.39% from the company’s current price.
A number of other analysts have also recently weighed in on IMG. Analysts at Goldman Sachs Group Inc. raised their price target on shares of Imagination Technologies Group (LON:IMG) from GBX 310 ($4.85) to GBX 390 ($6.10) in a research note to investors on Thursday. They now have a “buy” rating on the stock. Separately, analysts at Bank of America Corp. reiterated an “underperform” rating on shares of Imagination Technologies Group (LON:IMG) in a research note to investors on Thursday. They now have a GBX 291 ($4.55) price target on the stock. Finally, analysts at JPMorgan Chase & Co. reiterated an “overweight” rating on shares of Imagination Technologies Group (LON:IMG) in a research note to investors on Friday, September 6th.
Five research analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have given a buy rating to the stock. Imagination Technologies Group presently has a consensus rating of “Hold” and an average target price of GBX 393.93 ($6.16).
Imagination Technologies Group (LON:IMG) traded up 10.67% during mid-day trading on Friday, hitting GBX 340.20. The stock had a trading volume of 2,774,496 shares. The stock’s 50-day moving average is GBX 263.5 and its 200-day moving average is GBX 356.5. The company’s market cap is £897.8 million.
Imagination Technologies Group plc is engaged in multimedia and communication technologies. The Company operates in two segments: Technology business and the Pure business.
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