JPMorgan Chase & Co. Increases Morgan Advanced Materials PLC Price Target to GBX 350 (MGAM)
Analysts at JPMorgan Chase & Co. lifted their price target on shares of Morgan Advanced Materials PLC (LON:MGAM) from GBX 330 ($5.41) to GBX 350 ($5.74) in a research report issued to clients and investors on Friday, American Banking News reports. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.’s target price points to a potential upside of 9.38% from the company’s current price.
Shares of Morgan Advanced Materials PLC (LON:MGAM) traded up 1.11% on Friday, hitting GBX 320.00. The stock had a trading volume of 703,546 shares. Morgan Advanced Materials PLC 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 316.7 and a 200-day moving average of GBX 305.7.
A number of other analysts have also recently weighed in on MGAM. Analysts at Investec raised their price target on shares of Morgan Advanced Materials PLC from GBX 405 ($6.64) to GBX 410 ($6.73) in a research note on Thursday. They now have a “buy” rating on the stock. Separately, analysts at Numis Securities Ltd reiterated a “reduce” rating on shares of Morgan Advanced Materials PLC in a research note on Wednesday. They now have a GBX 265 ($4.35) price target on the stock. Finally, analysts at Jefferies Group raised their price target on shares of Morgan Advanced Materials PLC 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. Three research analysts have rated the stock with a sell rating, two have given a hold rating and seven have assigned a buy rating to the stock. Morgan Advanced Materials PLC has a consensus rating of “Hold” and a consensus target price of GBX 332.50 ($5.46).
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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