Majestic Wine PLC (LON:WINE) had its price target lowered by Investec from GBX 510 ($6.66) to GBX 450 ($5.87) in a note issued to investors on Wednesday. The brokerage currently has a “buy” rating on the stock. Investec’s price objective points to a potential upside of 36.36% from the company’s previous close.

Several other equities research analysts have also recently weighed in on WINE. Peel Hunt reiterated a “buy” rating and issued a GBX 540 ($7.05) price objective on shares of Majestic Wine PLC in a report on Monday, June 20th. Liberum Capital increased their price objective on Majestic Wine PLC from GBX 500 ($6.53) to GBX 510 ($6.66) and gave the stock a “buy” rating in a report on Monday, June 20th.

Shares of Majestic Wine PLC (LON:WINE) traded down 23.88% during midday trading on Wednesday, reaching GBX 330.00. The company had a trading volume of 4,224,422 shares. Majestic Wine PLC has a one year low of GBX 273.25 and a one year high of GBX 485.00. The company’s market capitalization is GBX 233.48 million. The company has a 50-day moving average price of GBX 416.60 and a 200 day moving average price of GBX 422.38.

This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at http://www.americanbankingnews.com/2016/09/21/majestic-wine-plc-wine-price-target-cut-to-gbx-450.html

Majestic Wine PLC Company Profile

Majestic Wine plc is a wine retailer. The Company acts as a holding company for its subsidiaries. The Company is engaged in the retailing of wines, beers and spirits. The Company operates through four segments: Retail, Commercial, Naked Wines and Lay & Wheeler. The Retail segment is a customer based wine retailer, selling wine, beer and spirits from stores across the United Kingdom, and online, and also incorporates the Company’s French business.

Receive News & Ratings for Majestic Wine PLC Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Majestic Wine PLC and related companies with MarketBeat.com's FREE daily email newsletter.