Weir Group Coverage Initiated by Analysts at Canaccord Genuity (WEIR)
Stock analysts at Canaccord Genuity assumed coverage on shares of Weir Group (LON:WEIR) in a report issued on Monday, Stock Ratings News reports. The firm set a “buy” rating and a GBX 2,500 ($41.08) price target on the stock. Canaccord Genuity’s price target would indicate a potential upside of 19.82% 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 Weir Group in a research note to investors on Monday. They now have a GBX 2,210 ($36.32) price target on the stock. Separately, analysts at Jefferies Group cut their price target on shares of Weir Group from GBX 2,500 ($41.08) to GBX 2,335 ($38.37) in a research note to investors on Monday. They now have a “hold” rating on the stock. Finally, analysts at Societe Generale reiterated a “sell” rating on shares of Weir Group in a research note to investors on Monday, January 20th. They now have a GBX 1,800 ($29.58) price target on the stock. One analyst has rated the stock with a sell rating, ten have issued a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. Weir Group presently has an average rating of “Buy” and an average price target of GBX 2,311.04 ($37.98).
Shares of Weir Group (LON:WEIR) traded up 1.38% during mid-day trading on Monday, hitting GBX 2123.00. 1,118,142 shares of the company’s stock traded hands. Weir Group has a 1-year low of GBX 1986.00 and a 1-year high of GBX 2490.00. The stock’s 50-day moving average is GBX 2111. and its 200-day moving average is GBX 2200.87. The company’s market cap is £4.518 billion.
The Weir Group PLC operates in three segments: Minerals, Oil and Gas, and Power and Industrial. The Minerals segment designs and manufactures pumps, hydrocyclones, valves and other complementary equipment for the mining, flue gas desulphurisation and oil sands markets.
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