JPMorgan Chase & Co. Lowers Micro Focus International (MCRO) Price Target to GBX 2,500
Micro Focus International (LON:MCRO) had its price target reduced by analysts at JPMorgan Chase & Co. from GBX 2,700 ($36.62) to GBX 2,500 ($33.90) in a research report issued on Wednesday. The brokerage presently has a “neutral” rating on the stock. JPMorgan Chase & Co.’s price target would suggest a potential upside of 16.06% from the company’s previous close.
A number of other equities research analysts also recently issued reports on the stock. Barclays lifted their price target on shares of Micro Focus International from GBX 2,600 ($35.26) to GBX 2,750 ($37.29) and gave the company an “overweight” rating in a research report on Tuesday, January 9th. Numis Securities cut shares of Micro Focus International to an “add” rating and set a GBX 2,980 ($40.41) price objective for the company. in a research note on Monday, January 8th. Citigroup reissued a “neutral” rating on shares of Micro Focus International in a research note on Friday, January 5th. Goldman Sachs Group started coverage on shares of Micro Focus International in a research note on Wednesday, December 13th. They set a “neutral” rating and a GBX 2,600 ($35.26) price objective for the company. Finally, Canaccord Genuity reissued a “buy” rating and set a GBX 2,880 ($39.06) price objective on shares of Micro Focus International in a research note on Tuesday, November 28th. Two analysts have rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of GBX 2,531.20 ($34.33).
Micro Focus International (MCRO) traded down GBX 4 ($0.05) during mid-day trading on Wednesday, hitting GBX 2,154 ($29.21). 1,010,952 shares of the stock were exchanged, compared to its average volume of 1,530,000. Micro Focus International has a 52 week low of GBX 26.78 ($0.36) and a 52 week high of GBX 2,970.50 ($40.28). The firm has a market cap of $9,320.00 and a P/E ratio of 4,395.92.
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About Micro Focus International
Micro Focus International plc is a United Kingdom-based global software company. The Company is engaged in delivering and supporting software solutions. The Company enables customers to utilize new technology solutions while maximizing the value of their investments in information technology (IT) infrastructure and business applications.
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