Melrose plc Price Target Raised to GBX 338 at Investec (MRO)
Equities researchers at Investec increased their price objective on shares of Melrose plc (LON:MRO) from GBX 332 ($5.45) to GBX 338 ($5.55) in a research report issued on Tuesday, Analyst Ratings News reports. The firm currently has a “buy” rating on the stock. Investec’s price objective indicates a potential upside of 8.44% from the company’s current price.
A number of other analysts have also recently weighed in on MRO. Analysts at RBC Capital reiterated an “outperform” rating on shares of Melrose plc in a research note to investors on Thursday, January 9th. They now have a GBX 330 ($5.42) price target on the stock. Separately, analysts at JPMorgan Chase & Co. reiterated an “overweight” rating on shares of Melrose plc in a research note to investors on Monday, January 6th. They now have a GBX 330 ($5.42) price target on the stock. Finally, analysts at Credit Suisse reiterated a “neutral” rating on shares of Melrose plc in a research note to investors on Thursday, December 12th. They now have a GBX 275 ($4.51) price target on the stock. Five equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of GBX 305.09 ($5.01).
Shares of Melrose plc (LON:MRO) traded up 0.64% on Tuesday, hitting GBX 313.70. 2,074,770 shares of the company’s stock traded hands. The stock’s 50-day moving average is GBX 0. and its 200-day moving average is GBX 0.. The company’s market cap is £3.973 billion.
The company also recently announced a dividend, which is scheduled for Friday, February 28th. Shareholders of record on Monday, February 10th will be paid a dividend of GBX 47 ($0.77) per share. This represents a dividend yield of 14.98%. The ex-dividend date is Monday, February 10th.
Melrose PLC operates through three divisions: Energy, Lifting and Other Industrial. The Energy segment incorporates the Turbogenerators (LON:MRO) and Marelli business units, specialist suppliers of energy industrial products to the worldwide market.
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