Meggitt (MGGT) Price Target Lowered to GBX 610 at JPMorgan Chase & Co.

Meggitt (LON:MGGT) had its price target trimmed by JPMorgan Chase & Co. from GBX 650 ($8.49) to GBX 610 ($7.97) in a report released on Thursday. The brokerage currently has an overweight rating on the stock.

A number of other equities analysts have also recently weighed in on MGGT. Goldman Sachs Group upped their price objective on shares of Meggitt from GBX 622 ($8.13) to GBX 626 ($8.18) and gave the company a neutral rating in a research report on Wednesday. Deutsche Bank upped their price objective on shares of Meggitt from GBX 515 ($6.73) to GBX 580 ($7.58) and gave the company a hold rating in a research report on Tuesday, December 4th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the stock. The stock presently has an average rating of Hold and an average price target of GBX 533.88 ($6.98).

LON:MGGT traded up GBX 9.30 ($0.12) on Thursday, reaching GBX 497.40 ($6.50). The stock had a trading volume of 1,692,114 shares, compared to its average volume of 3,380,000. Meggitt has a 12-month low of GBX 430.90 ($5.63) and a 12-month high of GBX 530 ($6.93).

Meggitt Company Profile

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.

Further Reading: How to calculate the intrinsic value of a stock

Analyst Recommendations for Meggitt (LON:MGGT)

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