Precision Castparts Corp. Price Target Raised to $287.00 at Credit Suisse (PCP)
Equities researchers at Credit Suisse upped their price objective on shares of Precision Castparts Corp. (NYSE:PCP) to $287.00 in a research report issued on Thursday, American Banking and Market News reports. The firm currently has an “outperform” rating on the stock. Credit Suisse’s price target would suggest a potential upside of 24.70% from the stock’s previous close.
A number of other firms have also recently commented on PCP. Analysts at Wells Fargo & Co. reiterated a “buy” rating on shares of Precision Castparts Corp. (NYSE:PCP) in a research note to investors on Wednesday. They now have a $240.00 price target on the stock. Separately, analysts at CRT Capital raised their price target on shares of Precision Castparts Corp. (NYSE:PCP) from $243.00 to $265.00 in a research note to investors on Wednesday. They now have a “buy” rating on the stock. Finally, analysts at RBC Capital raised their price target on shares of Precision Castparts Corp. (NYSE:PCP) from $260.00 to $280.00 in a research note to investors on Tuesday, September 24th. They now have a “top pick” rating on the stock. Three equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $254.50.
Shares of Precision Castparts Corp. (NYSE:PCP) traded down 1.04% on Thursday, hitting $227.76. The stock had a trading volume of 285,632 shares. Precision Castparts Corp. has a one year low of $160.78 and a one year high of $254.14. The stock has a 50-day moving average of $223.3 and a 200-day moving average of $212.9. The company has a market cap of $33.147 billion and a P/E ratio of 22.24.
Precision Castparts Corp. (NYSE:PCP) last announced its earnings results on Thursday, July 25th. The company reported $2.88 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.90 by $0.02. The company had revenue of $2.37 billion for the quarter, compared to the consensus estimate of $2.53 billion. During the same quarter in the previous year, the company posted $2.35 earnings per share. The company’s revenue for the quarter was up 20.4% on a year-over-year basis. On average, analysts predict that Precision Castparts Corp. will post $12.08 earnings per share for the current fiscal year.
Precision Castparts Corp. (NYSE:PCP) is a manufacturer of metal components and products, provides investment castings, forgings and fasteners/fastener systems for critical aerospace and industrial gas turbine (IGT) applications.
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