Phoenix IT Group plc Price Target Lowered to GBX 120 at Investec (PNX)
Investec dropped their price target on shares of Phoenix IT Group plc (LON:PNX) from GBX 138 ($2.35) to GBX 120 ($2.04) in a research note issued on Tuesday. The firm currently has a “hold” rating on the stock. Investec’s price objective would indicate a potential upside of 33.33% from the company’s current price.
Shares of Phoenix IT Group plc (LON:PNX) traded down 0.55% on Tuesday, hitting GBX 90.00. The stock had a trading volume of 371,587 shares. Phoenix IT Group plc has a 1-year low of GBX 87.765 and a 1-year high of GBX 172.75. The stock has a 50-day moving average of GBX 101.3 and a 200-day moving average of GBX 114.8. The company’s market cap is £74.7 million.
The company also recently declared a dividend, which is scheduled for Monday, September 29th. Stockholders of record on Wednesday, August 20th will be given a dividend of GBX 1 ($0.02) per share. This represents a yield of 1.1%. The ex-dividend date of this dividend is Wednesday, August 20th.
A number of other analysts have also recently weighed in on PNX. Analysts at Westhouse Securities reiterated an “add” rating on shares of Phoenix IT Group plc in a research note on Tuesday, June 10th. They now have a GBX 128 ($2.18) price target on the stock. Separately, analysts at Numis Securities Ltd cut their price target on shares of Phoenix IT Group plc from GBX 130 ($2.21) to GBX 95 ($1.62) in a research note on Tuesday, June 10th. They now have a “hold” rating on the stock. Finally, analysts at N+1 Singer reiterated a “hold” rating on shares of Phoenix IT Group plc in a research note on Tuesday, June 10th. They now have a GBX 130 ($2.21) price target on the stock. Six investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of GBX 126.50 ($2.15).
Phoenix IT Group plc is a United Kingdom-based company is engaged in the provision of information technology and business continuity services.
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