Citigroup Reiterates Neutral Rating for Meggitt (MGGT)
Meggitt (LON:MGGT)‘s stock had its “neutral” rating reaffirmed by analysts at Citigroup in a research report issued to clients and investors on Friday. They presently have a GBX 540 ($7.32) target price on the stock. Citigroup’s price objective indicates a potential upside of 14.50% from the stock’s previous close.
Several other research firms have also commented on MGGT. Liberum Capital restated a “sell” rating and issued a GBX 375 ($5.09) price target on shares of Meggitt in a report on Monday, October 2nd. JPMorgan Chase & Co. cut their price target on shares of Meggitt from GBX 580 ($7.87) to GBX 570 ($7.73) and set an “overweight” rating on the stock in a report on Thursday, October 12th. Credit Suisse Group restated an “underperform” rating on shares of Meggitt in a report on Tuesday, October 24th. Finally, Jefferies Group restated a “buy” rating on shares of Meggitt in a report on Monday, December 18th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of GBX 499.70 ($6.78).
Meggitt (MGGT) opened at GBX 471.60 ($6.40) on Friday. Meggitt has a 1-year low of GBX 407.40 ($5.52) and a 1-year high of GBX 530 ($7.19). The company has a market cap of $3,660.00 and a P/E ratio of 1,274.59.
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Meggitt PLC is an engineering company. The Company designs and manufactures high performance components and sub-systems for aerospace, defense and other specialist markets, including energy, medical, industrial, test and automotive. The Company’s segments are Meggitt Aircraft Braking Systems (MABS), Meggitt Control Systems (MCS), Meggitt Polymers & Composites (MPC), Meggitt Sensing Systems (MSS) and the Meggitt Equipment Group (MEG).
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