Credit Suisse Group Raises Meggitt (LON:MGGT) Price Target to GBX 525

Meggitt (LON:MGGT) had its target price upped by Credit Suisse Group from GBX 465 ($6.08) to GBX 525 ($6.86) in a research report released on Wednesday, ThisIsMoney.Co.Uk reports. The firm currently has an underperform rating on the stock.

A number of other research analysts also recently issued reports on MGGT. Berenberg Bank raised their price target on shares of Meggitt from GBX 610 ($7.97) to GBX 695 ($9.08) and gave the stock a buy rating in a research report on Monday, August 12th. UBS Group reaffirmed a sell rating on shares of Meggitt in a report on Thursday, September 12th. Goldman Sachs Group increased their price objective on shares of Meggitt from GBX 689 ($9.00) to GBX 711 ($9.29) and gave the stock a buy rating in a report on Thursday, August 8th. Finally, Investec cut shares of Meggitt to a hold rating in a research note on Monday, October 14th. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the company’s stock. The stock has an average rating of Hold and a consensus price target of GBX 597.60 ($7.81).

LON MGGT traded up GBX 5.80 ($0.08) during trading hours on Wednesday, reaching GBX 628.80 ($8.22). 1,415,695 shares of the company traded hands, compared to its average volume of 3,380,000. The company has a 50 day moving average of GBX 621.06 and a two-hundred day moving average of GBX 574.81. The company has a current ratio of 1.57, a quick ratio of 0.83 and a debt-to-equity ratio of 50.95. Meggitt has a 12 month low of GBX 456.10 ($5.96) and a 12 month high of GBX 646.60 ($8.45). The stock has a market capitalization of $4.90 billion and a PE ratio of 33.99.

About Meggitt

Meggitt PLC designs and manufactures components and sub-systems for aerospace, defense, energy, medical, industrial, test, and automotive markets in the United Kingdom, rest of Europe, the United States, and internationally. It operates through Meggitt Aircraft Braking Systems, Meggitt Control Systems, Meggitt Polymers & Composites, Meggitt Sensing Systems, and Meggitt Equipment Group segments.

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Analyst Recommendations for Meggitt (LON:MGGT)

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