Credit Suisse Lowers Fenner plc Price Target to GBX 405 (FENR)
Equities researchers at Credit Suisse lowered their price objective on shares of Fenner plc (LON:FENR) from GBX 490 ($8.32) to GBX 405 ($6.87) in a research report issued on Monday. The firm currently has an “outperform” rating on the stock. Credit Suisse’s price objective suggests a potential upside of 16.65% from the stock’s previous close.
Fenner plc (LON:FENR) traded down 0.81% during mid-day trading on Monday, hitting GBX 344.40. 163,172 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 384.3 and a 200-day moving average of GBX 417.3. The company’s market cap is £667.5 million.
Other equities research analysts have also recently issued reports about the stock. Analysts at JPMorgan Chase & Co. cut their price target on shares of Fenner plc from GBX 405 ($6.87) to GBX 355 ($6.03) in a research note on Wednesday, June 11th. They now have a “neutral” rating on the stock. Separately, analysts at Jefferies Group cut their price target on shares of Fenner plc from GBX 490 ($8.32) to GBX 410 ($6.96) in a research note on Tuesday, June 10th. They now have a “buy” rating on the stock. Finally, 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 ($6.79) price target on the stock. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of GBX 397.25 ($6.74).
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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