HSBC Trims GKN (GKN) Target Price to GBX 485
GKN (LON:GKN) had its price target reduced by analysts at HSBC from GBX 510 ($6.86) to GBX 485 ($6.53) in a research report issued on Wednesday. The firm presently has a “reduce” rating on the stock. HSBC’s price objective indicates a potential upside of 62.59% from the company’s current price.
Several other analysts also recently weighed in on the company. Peel Hunt reissued a “buy” rating and issued a GBX 500 ($6.73) target price on shares of GKN in a report on Monday, November 6th. Investec raised GKN to a “buy” rating and boosted their target price for the company from GBX 335 ($4.51) to GBX 400 ($5.38) in a report on Monday, November 6th. J P Morgan Chase & Co reissued an “overweight” rating and issued a GBX 378 ($5.09) target price on shares of GKN in a report on Friday, November 17th. Jefferies Group boosted their target price on GKN from GBX 380 ($5.11) to GBX 425 ($5.72) and gave the company a “buy” rating in a report on Thursday, November 9th. Finally, Deutsche Bank reissued a “buy” rating and issued a GBX 395 ($5.32) target price on shares of GKN in a report on Friday, October 13th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and eleven have given a buy rating to the company’s stock. GKN currently has an average rating of “Buy” and an average target price of GBX 395.75 ($5.33).
Shares of GKN (GKN) traded down GBX 1.20 ($0.02) during midday trading on Wednesday, reaching GBX 298.30 ($4.01). The company’s stock had a trading volume of 5,535,400 shares, compared to its average volume of 9,710,000. GKN has a 12 month low of GBX 2.95 ($0.04) and a 12 month high of GBX 379.30 ($5.10).
GKN plc is a global engineering company. The Company is engaged in the design, manufacture and service of systems and components for original equipment manufacturers. The Company operates in four segments: GKN Aerospace, GKN Driveline, GKN Powder Metallurgy and GKN Land Systems. The GKN Aerospace segment is a supplier of airframe and engine structures, landing gear, electrical interconnection systems, transparencies and aftermarket services.
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