Meggitt plc Coverage Initiated at Westhouse Securities (MGGT)
Stock analysts at Westhouse Securities started coverage on shares of Meggitt plc (LON:MGGT) in a report issued on Thursday. The firm set a “neutral” rating and a GBX 470 ($7.98) price target on the stock. Westhouse Securities’ price target points to a potential downside of 11.74% from the company’s current price.
Meggitt plc (LON:MGGT) traded up 1.62% on Thursday, hitting GBX 532.50. 1,677,084 shares of the company’s stock traded hands. Meggitt plc has a 1-year low of GBX 445.00 and a 1-year high of GBX 575.00. The stock’s 50-day moving average is GBX 491. and its 200-day moving average is GBX 497.7. The company’s market cap is £4.244 billion.
Other equities research analysts have also recently issued reports about the stock. Analysts at Berenberg Bank initiated coverage on shares of Meggitt plc in a research note on Tuesday. They set a “buy” rating and a GBX 600 ($10.19) price target on the stock. Separately, 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. Finally, 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. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of GBX 558.53 ($9.48).
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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