Koninklijke Philips Electronics PT Raised to $28.50 (PHG)
Equities researchers at JPMorgan Chase & Co. hoisted their price target on shares of Koninklijke Philips Electronics (NYSE:PHG) from $28.00 to $28.50 in a research report issued on Tuesday, AnalystRatingsNetwork reports. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.’s price target indicates a potential downside of 20.06% from the stock’s previous close.
Other equities research analysts have also recently issued reports about the stock. Analysts at Goldman Sachs Group Inc. raised their price target on shares of Koninklijke Philips Electronics from $30.00 to $31.00 in a research note to investors on Tuesday. They now have a “buy” rating on the stock. Separately, analysts at Canaccord Genuity raised their price target on shares of Koninklijke Philips Electronics from $20.00 to $23.00 in a research note to investors on Tuesday. They now have a “hold” rating on the stock. Five analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $28.27.
Shares of Koninklijke Philips Electronics (NYSE:PHG) traded up 1.36% on Tuesday, hitting $35.65. 1,177,471 shares of the company’s stock traded hands. Koninklijke Philips Electronics has a 52 week low of $22.75 and a 52 week high of $33.76. The stock has a 50-day moving average of $32.16 and a 200-day moving average of $29.68. The company has a market cap of $32.580 billion and a P/E ratio of 59.41.
Koninklijke Philips Electronics (NYSE:PHG) last released its earnings data on Monday, October 21st. The company reported $0.31 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.33 by $0.02. The company had revenue of $5.62 billion for the quarter, compared to the consensus estimate of $5.77 billion. During the same quarter in the prior year, the company posted $0.18 earnings per share. The company’s quarterly revenue was down 3.5% on a year-over-year basis. On average, analysts predict that Koninklijke Philips Electronics will post $1.76 earnings per share for the current fiscal year.
Koninklijke Philips Electronics N.V. (NYSE:PHG) is the parent company of the Philips Group (Philips).
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