Ferrexpo (FXPO) Rating Reiterated by Citigroup
Ferrexpo (LON:FXPO)‘s stock had its “buy” rating restated by equities research analysts at Citigroup in a research note issued to investors on Tuesday. They presently have a GBX 280 ($3.65) price target on the iron ore producer’s stock. Citigroup’s target price indicates a potential upside of 46.98% from the stock’s previous close.
Other equities research analysts also recently issued research reports about the company. HSBC upgraded Ferrexpo to a “buy” rating and upped their price target for the stock from GBX 250 ($3.26) to GBX 275 ($3.58) in a report on Tuesday, June 19th. Deutsche Bank cut their price target on Ferrexpo from GBX 210 ($2.74) to GBX 200 ($2.61) and set a “hold” rating on the stock in a report on Friday, August 3rd. Liberum Capital upgraded Ferrexpo to a “hold” rating in a report on Thursday, July 26th. JPMorgan Chase & Co. restated an “overweight” rating on shares of Ferrexpo in a report on Monday, September 10th. Finally, Barclays cut their price target on Ferrexpo from GBX 185 ($2.41) to GBX 140 ($1.82) and set an “underweight” rating on the stock in a report on Wednesday, July 18th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company. Ferrexpo presently has an average rating of “Hold” and an average target price of GBX 214.13 ($2.79).
LON FXPO traded up GBX 4.20 ($0.05) during trading hours on Tuesday, hitting GBX 190.50 ($2.48). 1,662,233 shares of the company were exchanged, compared to its average volume of 2,650,000. Ferrexpo has a 52-week low of GBX 136.88 ($1.78) and a 52-week high of GBX 326.60 ($4.25).
Ferrexpo Company Profile
Ferrexpo plc mines for, develops, processes, produces, markets, exports, and sells iron ore pellets to the metallurgical industry worldwide. The company operates two open-pit mines and a processing plant near Kremenchug in Ukraine; a port in Odessa; a fleet of vessels operating on the Rhine and Danube waterways; and an ocean going vessel on international sea routes.
Further Reading: Leveraged Buyout (LBO) Explained
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