Electrocomponents’s Buy Rating Reaffirmed at Cantor Fitzgerald Europe (ECM)
Electrocomponents (LON:ECM)‘s stock had its “buy” rating restated by Cantor Fitzgerald Europe in a research note issued on Monday, American Banking & Market News reports. They currently have a GBX 330 ($5.42) price objective on the stock. Cantor Fitzgerald Europe’s target price suggests a potential upside of 16.48% from the stock’s previous close.
Other equities research analysts have also recently issued reports about the stock. Analysts at Credit Suisse reiterated a “neutral” rating on shares of Electrocomponents in a research note to investors on Tuesday, December 17th. They now have a GBX 275 ($4.51) price target on the stock. Separately, analysts at Deutsche Bank downgraded shares of Electrocomponents to a “hold” rating in a research note to investors on Wednesday, November 20th. They now have a GBX 310 ($5.09) price target on the stock, up previously from GBX 285 ($4.68). Finally, analysts at Numis Securities Ltd raised their price target on shares of Electrocomponents from GBX 260 ($4.27) to GBX 315 ($5.17) in a research note to investors on Friday, November 15th. They now have a “hold” rating on the stock. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and three have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of GBX 272.23 ($4.47).
Shares of Electrocomponents (LON:ECM) opened at 285.40 on Monday. Electrocomponents has a 1-year low of GBX 227.00 and a 1-year high of GBX 304.20. The stock has a 50-day moving average of GBX 277.8 and a 200-day moving average of GBX 273.2. The company’s market cap is £1.252 billion.
Electrocomponents plc is engaged in the distribution of electronics and maintenance products. The Company also distributes electrical, industrial and commercial supplies and services to engineers worldwide, through its 32 operating companies and its distributors.
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