Jefferies Group Reaffirms “Buy” Rating for Northgate (NTG)
Northgate (LON:NTG)‘s stock had its “buy” rating reaffirmed by research analysts at Jefferies Group in a research note issued to investors on Wednesday. They currently have a GBX 600 ($8.08) price target on the stock. Jefferies Group’s price target suggests a potential upside of 51.61% from the stock’s current price.
A number of other research firms have also recently issued reports on NTG. Berenberg Bank upgraded shares of Northgate to a “hold” rating and set a GBX 465 ($6.26) target price for the company in a research note on Thursday, November 2nd. N+1 Singer raised their target price on shares of Northgate from GBX 497 ($6.69) to GBX 578 ($7.78) and gave the stock a “buy” rating in a research note on Friday, October 6th. Numis Securities restated a “buy” rating and set a GBX 575 ($7.74) target price on shares of Northgate in a research note on Thursday, October 5th. Peel Hunt restated a “buy” rating and set a GBX 575 ($7.74) target price on shares of Northgate in a research note on Wednesday, October 4th. Finally, Barclays restated an “overweight” rating on shares of Northgate in a research note on Wednesday, December 6th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of GBX 565.50 ($7.61).
Northgate (NTG) traded down GBX 3.25 ($0.04) during midday trading on Wednesday, hitting GBX 395.75 ($5.33). 1,272,986 shares of the stock were exchanged, compared to its average volume of 297,953. Northgate has a one year low of GBX 382.25 ($5.14) and a one year high of GBX 575.50 ($7.75).
Northgate plc is an investment holding company. The Company is engaged in the light commercial vehicle hire business in the United Kingdom, Ireland and Spain. The Company’s segments include UK, Spain and Corporate. The Company has a national network of approximately 80 branches across the United Kingdom and Ireland with a total fleet size of over 53,000 vehicles.
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