Canaccord Genuity Reaffirms “Buy” Rating for Melrose Industries Plc (MRO)
Melrose Industries Plc (LON:MRO)‘s stock had its “buy” rating reaffirmed by investment analysts at Canaccord Genuity in a note issued to investors on Thursday. They currently have a GBX 400 ($6.62) target price on the stock. Canaccord Genuity’s target price would indicate a potential upside of 42.08% from the stock’s previous close.
Shares of Melrose Industries Plc (LON:MRO) opened at 277.50 on Thursday. Melrose Industries Plc has a 52 week low of GBX 246.70 and a 52 week high of GBX 382.20. The stock has a 50-day moving average of GBX 266.7 and a 200-day moving average of GBX 283.5. The company’s market cap is £2.974 billion.
A number of other firms have also recently commented on MRO. Analysts at Liberum Capital reiterated a “buy” rating on shares of Melrose Industries Plc in a research note on Thursday. They now have a GBX 330 ($5.46) price target on the stock. Separately, analysts at Investec raised their price target on shares of Melrose Industries Plc from GBX 325 ($5.38) to GBX 330 ($5.46) in a research note on Thursday. They now have a “buy” rating on the stock. Finally, analysts at RBC Capital reiterated an “outperform” rating on shares of Melrose Industries Plc in a research note on Tuesday. They now have a GBX 330 ($5.46) price target on the stock. Four analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of GBX 326.50 ($5.40).
Melrose PLC operates through three divisions: Energy, Lifting and Other Industrial. The Energy segment incorporates the Turbogenerators (LON:MRO) and Marelli business units, specialist suppliers of energy industrial products to the worldwide market.
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