Melrose Industries Plc Receives Overweight Rating from JPMorgan Chase & Co. (MRO)
Melrose Industries Plc (LON:MRO)‘s stock had its “overweight” rating reaffirmed by investment analysts at JPMorgan Chase & Co. in a note issued to investors on Thursday. They currently have a GBX 333 ($5.51) target price on the stock. JPMorgan Chase & Co.’s target price indicates a potential upside of 19.96% from the stock’s previous close.
A number of other analysts have also recently weighed in on MRO. Analysts at Canaccord Genuity reiterated a “buy” rating on shares of Melrose Industries Plc in a research note on Thursday. They now have a GBX 400 ($6.62) price target on the stock. Separately, 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. Finally, 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. Four analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of GBX 326.80 ($5.41).
Melrose Industries Plc (LON:MRO) traded down 0.61% during mid-day trading on Thursday, hitting GBX 277.00. 2,938,662 shares of the company’s stock traded hands. Melrose Industries Plc has a 1-year low of GBX 246.70 and a 1-year 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 £2.969 billion.
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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