Numis Securities Ltd Downgrades Premier Farnell to Hold (PFL)
Premier Farnell (LON:PFL) was downgraded by analysts at Numis Securities Ltd from an “add” rating to a “hold” rating in a research report issued to clients and investors on Friday, Analyst Ratings.Net reports. They currently have a GBX 250 ($3.97) price objective on the stock. Numis Securities Ltd’s target price indicates a potential upside of 9.60% from the stock’s previous close.
Shares of Premier Farnell (LON:PFL) traded down 5.30% during mid-day trading on Friday, hitting GBX 216.00. 1,113,997 shares of the company’s stock traded hands. Premier Farnell has a 1-year low of GBX 164.70 and a 1-year high of GBX 240.60. The stock’s 50-day moving average is GBX 229.4 and its 200-day moving average is GBX 219.3. The company’s market cap is £788.4 million.
A number of other firms have also recently commented on PFL. Analysts at Credit Suisse reiterated a “neutral” rating on shares of Premier Farnell (LON:PFL) in a research note to investors on Friday. They now have a GBX 230 ($3.65) price target on the stock. Separately, analysts at Cantor Fitzgerald upgraded shares of Premier Farnell (LON:PFL) from a “hold” rating to a “buy” rating in a research note to investors on Friday. They now have a GBX 250 ($3.97) price target on the stock, up previously from GBX 210 ($3.33). Finally, analysts at Deutsche Bank cut their price target on shares of Premier Farnell (LON:PFL) from GBX 250 ($3.97) to GBX 245 ($3.89) in a research note to investors on Thursday. They now have a “buy” rating on the stock.
Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and nine have given a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of GBX 235.13 ($3.73).
Premier Farnell plc markets and distributes electronic, maintenance, repair and operations products and specialist services throughout Europe, North America and Asia Pacific.
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