HSBC Cuts GKN (GKN) Price Target to GBX 485

GKN (LON:GKN) had its price target cut by equities research analysts at HSBC from GBX 510 ($6.86) to GBX 485 ($6.53) in a report issued on Wednesday. The firm currently has a “reduce” rating on the stock. HSBC’s target price points to a potential upside of 62.59% from the company’s previous close.

GKN has been the subject of a number of other research reports. Deutsche Bank reiterated a “buy” rating and issued a GBX 395 ($5.32) price target on shares of GKN in a research note on Friday, September 15th. Berenberg Bank cut their price target on shares of GKN from GBX 400 ($5.38) to GBX 365 ($4.91) and set a “buy” rating for the company in a research note on Tuesday, October 17th. Barclays reiterated an “overweight” rating and issued a GBX 370 ($4.98) price target on shares of GKN in a research note on Monday, October 16th. Peel Hunt increased their price target on shares of GKN from GBX 475 ($6.39) to GBX 535 ($7.20) and gave the company a “buy” rating in a research note on Tuesday, August 29th. Finally, Jefferies Group reiterated a “buy” rating and issued a GBX 425 ($5.72) price target on shares of GKN in a research note on Friday, November 17th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and eleven have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of GBX 395.75 ($5.33).

Shares of GKN (GKN) traded down GBX 1.20 ($0.02) during mid-day trading on Wednesday, reaching GBX 298.30 ($4.01). 5,535,400 shares of the company’s stock were exchanged, 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).

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About GKN

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.

Analyst Recommendations for GKN (LON:GKN)

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