Fenner Upgraded to Outperform by Credit Suisse (FENR)
Fenner (LON:FENR) was upgraded by research analysts at Credit Suisse from a “neutral” rating to an “outperform” rating in a report released on Thursday, Analyst Ratings Network reports. The firm currently has a GBX 490 ($7.78) target price on the stock, up from their previous target price of GBX 390 ($6.19). Credit Suisse’s price objective would indicate a potential upside of 22.53% from the company’s current price.
A number of other analysts have also recently weighed in on FENR. Analysts at Investec downgraded shares of Fenner (LON:FENR) from a “hold” rating to a “sell” rating in a research note to investors on Wednesday. They now have a GBX 375 ($5.95) price target on the stock, up previously from GBX 370 ($5.87). Separately, analysts at JPMorgan Chase & Co. reiterated a “neutral” rating on shares of Fenner (LON:FENR) in a research note to investors on Wednesday, September 11th. They now have a GBX 340 ($5.40) price target on the stock. Finally, analysts at N+1 Singer reiterated a “hold” rating on shares of Fenner (LON:FENR) in a research note to investors on Tuesday, September 10th. They now have a GBX 363 ($5.76) price target on the stock.
One research analyst has rated the stock with a sell rating, five have issued a hold rating and six have assigned a buy rating to the company. Fenner has a consensus rating of “Hold” and a consensus price target of GBX 408.54 ($6.49).
Fenner (LON:FENR) opened at 412.40 on Thursday. Fenner has a 52-week low of GBX 301.93 and a 52-week high of GBX 439.00. The stock has a 50-day moving average of GBX 363.3 and a 200-day moving average of GBX 359.3. The company’s market cap is £798.2 million.
Fenner PLC is a manufacturer and distributor of reinforced polymer products. It operates in two segments: conveyor belting, which is engaged in the manufacture of rubber, polyvinyl chloride and steel cord conveyor belts, and advanced engineered products, which is engaged in the manufacture of precision polymer products; problem-solving power transmission and motion transfer components; silicone and complex hoses for heavy duty trucks, buses and off-road vehicles; seals and sealing solutions for the fluid power and oil and gas industries; technical textiles for medical and industrial applications and silicone based products for medical applications; rollers for digital image processing and medical diagnostics, and fluropolymer components for fluid and gas handling.
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