Fenner plc Price Target Cut to GBX 355 (FENR)
Equities researchers at JPMorgan Chase & Co. decreased their price objective on shares of Fenner plc (LON:FENR) from GBX 405 ($6.81) to GBX 355 ($5.97) in a research report issued on Wednesday. The firm currently has a “neutral” rating on the stock. JPMorgan Chase & Co.’s price target would suggest a potential upside of 3.85% from the stock’s previous close.
Other equities research analysts have also recently issued reports about the stock. Analysts at Jefferies Group cut their price target on shares of Fenner plc from GBX 490 ($8.24) to GBX 410 ($6.89) in a research note on Tuesday. They now have a “buy” rating on the stock. Separately, analysts at Espirito Santo Investment Bank Research reiterated a “neutral” rating on shares of Fenner plc in a research note on Friday, May 30th. They now have a GBX 400 ($6.72) price target on the stock. Finally, analysts at Investec cut their price target on shares of Fenner plc from GBX 360 ($6.05) to GBX 320 ($5.38) in a research note on Friday, May 30th. They now have a “sell” rating on the stock. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the stock. Fenner plc has a consensus rating of “Hold” and an average target price of GBX 404.33 ($6.80).
Shares of Fenner plc (LON:FENR) traded up 2.66% on Wednesday, hitting GBX 351.20. 315,580 shares of the company’s stock traded hands. Fenner plc has a 52-week low of GBX 301.93 and a 52-week high of GBX 488.00. The stock has a 50-day moving average of GBX 388.2 and a 200-day moving average of GBX 418.8. The company’s market cap is £680.6 million.
Fenner PLC is a manufacturer and distributor of reinforced polymer products. It operates in two segments: engineered conveyor solutions, which is engaged in the manufacture of rubber, polyvinyl chloride and steel cord conveyor belts, ply, solid woven and steel cord conveyor belting for mining, power generation and industrial applications and advanced engineered products, which is engaged in the manufacture of precision polymer products; problem-solving power transmission and motion transfer components; silicone and complex hoses for heavy duty trucks, buses and off-road vehicles; seals and sealing solutions for the fluid power and oil and gas industries; technical textiles for medical and industrial applications and silicone based products for medical applications; rollers for digital image processing and medical diagnostics, and fluropolymer components for fluid and gas handling.
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