J Sainsbury PT Lowered to GBX 340 (SBRY)
Stock analysts at JPMorgan Chase & Co. dropped their target price on shares of J Sainsbury (LON:SBRY) from GBX 380 ($6.23) to GBX 340 ($5.58) in a report issued on Thursday, Analyst RN reports. The firm currently has an “underweight” rating on the stock. JPMorgan Chase & Co.’s price objective would indicate a potential downside of 3.24% from the company’s current price.
J Sainsbury (LON:SBRY) traded down 2.39% during mid-day trading on Thursday, hitting GBX 351.40. 16,388,691 shares of the company’s stock traded hands. J Sainsbury has a 52-week low of GBX 315.831 and a 52-week high of GBX 428.00. The stock has a 50-day moving average of GBX 385.6 and a 200-day moving average of GBX 388.3. The company’s market cap is £6.657 billion.
SBRY has been the subject of a number of other recent research reports. Analysts at Sanford C. Bernstein reiterated a “market perform” rating on shares of J Sainsbury in a research note to investors on Tuesday. They now have a GBX 430 ($7.05) price target on the stock. Separately, analysts at Bank of America Corp. downgraded shares of J Sainsbury to an “underperform” rating in a research note to investors on Tuesday. They now have a GBX 350 ($5.74) price target on the stock, down previously from GBX 430 ($7.05). Finally, analysts at Barclays reiterated an “overweight” rating on shares of J Sainsbury in a research note to investors on Tuesday. They now have a GBX 440 ($7.22) price target on the stock. Four investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of GBX 392.50 ($6.44).
J Sainsbury plc is engaged in grocery and related retailing. The Company is organized into three segments: Retailing (LON:SBRY); Financial services (Sainsbury’s Bank joint venture), and Property investments (The British Land Company PLC joint venture and Land Securities PLC joint venture).
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