Meggitt plc Receives New Coverage from Analysts at Berenberg Bank (MGGT)
Equities research analysts at Berenberg Bank started coverage on shares of Meggitt plc (LON:MGGT) in a research note issued to investors on Tuesday. The firm set a “buy” rating and a GBX 600 ($10.19) price target on the stock. Berenberg Bank’s target price points to a potential upside of 14.29% from the company’s current price.
Several other analysts have also recently commented on the stock. Analysts at Investec raised their price target on shares of Meggitt plc from GBX 550 ($9.34) to GBX 560 ($9.51) in a research note on Tuesday, June 10th. They now have a “buy” rating on the stock. Separately, analysts at RBC Capital reiterated an “outperform” rating on shares of Meggitt plc in a research note on Friday, May 23rd. They now have a GBX 580 ($9.85) price target on the stock. Finally, analysts at Jefferies Group reiterated a “hold” rating on shares of Meggitt plc in a research note on Monday, May 12th. They now have a GBX 550 ($9.34) price target on the stock. One research analyst has rated the stock with a sell rating, six have issued a hold rating and nine have assigned a buy rating to the company’s stock. Meggitt plc presently has a consensus rating of “Buy” and a consensus target price of GBX 564.86 ($9.59).
Meggitt plc (LON:MGGT) traded up 0.38% on Tuesday, hitting GBX 525.00. 1,220,420 shares of the company’s stock traded hands. Meggitt plc has a 52-week low of GBX 445.00 and a 52-week high of GBX 575.00. The stock has a 50-day moving average of GBX 488.6 and a 200-day moving average of GBX 497.3. The company’s market cap is £4.184 billion.
Meggitt PLC is engaged in designing and manufacturing of components and sub-systems. The Company’s segments include Aircraft Braking Systems, which is a supplier of aircraft wheels, brakes and brake control systems; Control Systems, which is a supplier of pneumatic, fluid control, thermal management and electro-mechanical equipment and sub-systems; Polymers & Composites, which is a specialist in fuel containment, engineered aircraft sealing solutions and technical polymers, electrothermal ice protection and complex composite structures and assemblies; Sensing Systems, which is a provider of sensing and condition-monitoring solutions for rotating machinery and other assets, and Equipment Group division, which supplies aircraft fire protection and control systems, avionics, combat systems, live-fire and simulation training, and heat transfer equipment.
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