Koninklijke Philips Electronics’s “Neutral” Rating Reaffirmed at Zacks (PHG)
Koninklijke Philips Electronics (NYSE:PHG)‘s stock had its “neutral” rating reiterated by Zacks in a report released on Friday, Analyst Ratings Network reports. They currently have a $33.00 price target on the stock. Zacks‘ price target suggests a potential upside of 3.64% from the stock’s previous close.
Zacks‘ analyst wrote, “Phillips is a leading consumer electronics company. We are maintaining our Neutral recommendation on Phillips with a $33 target price. The company has reported profit for two consecutive quarters, sending earnings estimates higher over the past 30 days. Cost reduction plans and innovative product launches are helping the company’s growth strategy and are working in its favor. Furthermore, earnings increased 218% year over year and revenues were up 3% with all sectors performing well. The LED lighting segment is one of the growth factors for the company, contributing about 25% of the total lighting sales. Though the stock is yet to reach pre-recession price levels, it clearly is on the recovery path with bright growth prospects. “
PHG has been the subject of a number of other recent research reports. Analysts at Citigroup Inc. upgraded shares of Koninklijke Philips Electronics (NYSE:PHG) from a “sell” rating to a “buy” rating in a research note to investors on Friday, September 6th. Separately, analysts at JPMorgan Chase & Co. upgraded shares of Koninklijke Philips Electronics (NYSE:PHG) from a “neutral” rating to an “outperform” rating in a research note to investors on Tuesday, July 23rd. Finally, analysts at JPMorgan Chase & Co. upgraded shares of Koninklijke Philips Electronics (NYSE:PHG) from a “neutral” rating to an “overweight” rating in a research note to investors on Tuesday, July 23rd. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $29.00.
Shares of Koninklijke Philips Electronics (NYSE:PHG) traded up 0.94% during mid-day trading on Friday, hitting $32.14. 176,837 shares of the company’s stock traded hands. Koninklijke Philips Electronics has a 1-year low of $23.58 and a 1-year high of $33.76. The stock’s 50-day moving average is $32.39 and its 200-day moving average is $30.04. The company has a market cap of $29.372 billion and a price-to-earnings ratio of 53.78.
Koninklijke Philips Electronics N.V. (NYSE:PHG) is the parent company of the Philips Group (Philips).
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