Morgan Advanced Materials’s Reduce Rating Reaffirmed at Numis Securities Ltd (MGAM)
Morgan Advanced Materials (LON:MGAM)‘s stock had its “reduce” rating reaffirmed by equities research analysts at Numis Securities Ltd in a research note issued to investors on Wednesday, Analyst Ratings Network.com reports. They currently have a GBX 265 ($4.35) price target on the stock. Numis Securities Ltd’s target price suggests a potential downside of 15.31% from the stock’s previous close.
A number of other firms have also recently commented on MGAM. Analysts at Jefferies Group raised their price target on shares of Morgan Advanced Materials from GBX 340 ($5.58) to GBX 360 ($5.91) in a research note on Tuesday. They now have a “buy” rating on the stock. Separately, analysts at Canaccord Genuity initiated coverage on shares of Morgan Advanced Materials in a research note on Monday, February 3rd. They set a “buy” rating and a GBX 400 ($6.56) price target on the stock. Finally, analysts at Investec raised their price target on shares of Morgan Advanced Materials from GBX 390 ($6.40) to GBX 405 ($6.64) in a research note on Monday, January 13th. They now have a “buy” rating on the stock. Three investment analysts have rated the stock with a sell rating, two have assigned a hold rating and seven have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of GBX 330.50 ($5.42).
Morgan Advanced Materials (LON:MGAM) traded up 0.48% during mid-day trading on Wednesday, hitting GBX 315.00. 110,687 shares of the company’s stock traded hands. Morgan Advanced Materials has a 52 week low of GBX 238.865 and a 52 week high of GBX 340.70. The stock has a 50-day moving average of GBX 315.7 and a 200-day moving average of GBX 305.5.
Morgan Advanced Materials PLC, formerly The Morgan Crucible Company plc, designs, manufactures and markets primarily carbon and ceramic components for applications in a range of markets.
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