Millennium & Copthorne Hotels plc PT Lowered to GBX 550 (MLC)
Investment analysts at Credit Suisse dropped their target price on shares of Millennium & Copthorne Hotels plc (LON:MLC) from GBX 570 ($9.55) to GBX 550 ($9.22) in a note issued to investors on Friday, Analyst Ratings Network.com reports. The firm currently has a “neutral” rating on the stock. Credit Suisse’s target price would indicate a potential downside of 6.80% from the stock’s previous close.
Shares of Millennium & Copthorne Hotels plc (LON:MLC) traded up 3.71% during mid-day trading on Friday, hitting GBX 590.1291. The stock had a trading volume of 123,368 shares. Millennium & Copthorne Hotels plc has a 52 week low of GBX 513.50 and a 52 week high of GBX 622.50. The stock has a 50-day moving average of GBX 578.0 and a 200-day moving average of GBX 573.5. The company’s market cap is £1.914 billion.
The company also recently declared a dividend, which is scheduled for Friday, May 16th. Stockholders of record on Wednesday, March 19th will be given a dividend of GBX 20.66 ($0.35) per share. This represents a yield of 3.48%. The ex-dividend date of this dividend is Wednesday, March 19th.
A number of other analysts have also recently weighed in on MLC. Analysts at Beaufort Securities reiterated a “hold” rating on shares of Millennium & Copthorne Hotels plc in a research note on Tuesday, February 11th. Separately, analysts at Jefferies Group reiterated a “hold” rating on shares of Millennium & Copthorne Hotels plc in a research note on Tuesday, February 4th. They now have a GBX 550 ($9.22) price target on the stock. Finally, analysts at BNP Paribas reiterated an “underperform” rating on shares of Millennium & Copthorne Hotels plc in a research note on Monday, February 3rd. They now have a GBX 510 ($8.55) price target on the stock. Two investment analysts have rated the stock with a sell rating and eleven have assigned a hold rating to the company. Millennium & Copthorne Hotels plc presently has an average rating of “Hold” and an average target price of GBX 547.83 ($9.18).
Millennium & Copthorne Hotels plc is engaged in the ownership and management of hotels worldwide. The Company operates hotels under four brands: Grand Millennium, Millennium, Copthorne and Kingsgate.
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