JPMorgan Chase & Co. Raises Melrose Industries (MRO) Price Target to GBX 285
Melrose Industries (LON:MRO) had its target price lifted by JPMorgan Chase & Co. from GBX 280 ($3.66) to GBX 285 ($3.72) in a report issued on Thursday morning. The firm currently has an overweight rating on the stock.
MRO has been the topic of several other research reports. Barclays decreased their target price on Melrose Industries from GBX 260 ($3.40) to GBX 250 ($3.27) and set an overweight rating on the stock in a report on Monday, October 15th. Peel Hunt increased their target price on Melrose Industries to GBX 240 ($3.14) and gave the stock a buy rating in a report on Monday, July 2nd. Deutsche Bank restated a buy rating and set a GBX 275 ($3.59) target price on shares of Melrose Industries in a report on Friday, September 7th. Goldman Sachs Group restated a buy rating on shares of Melrose Industries in a report on Thursday, June 28th. Finally, Liberum Capital increased their target price on Melrose Industries to GBX 240 ($3.14) and gave the stock a buy rating in a report on Monday, July 2nd. Nine equities research analysts have rated the stock with a buy rating, The stock has a consensus rating of Buy and an average price target of GBX 266.11 ($3.48).
Shares of LON:MRO opened at GBX 164.40 ($2.15) on Thursday. Melrose Industries has a fifty-two week low of GBX 2.13 ($0.03) and a fifty-two week high of GBX 261.90 ($3.42).
The company also recently declared a dividend, which was paid on Friday, October 12th. Investors of record on Thursday, September 13th were issued a GBX 1.55 ($0.02) dividend. This represents a yield of 0.67%. The ex-dividend date of this dividend was Thursday, September 13th.
In other news, insider Charlotte Twyning purchased 36,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 3rd. The shares were acquired at an average price of GBX 197 ($2.57) per share, for a total transaction of £70,920 ($92,669.54). Also, insider Justin Dowley purchased 9,531 shares of the firm’s stock in a transaction that occurred on Wednesday, October 17th. The stock was purchased at an average price of GBX 174 ($2.27) per share, for a total transaction of £16,583.94 ($21,669.85).
Melrose Industries Company Profile
Melrose Industries PLC, together with its subsidiaries, designs and manufactures electricity generating equipment for the power generation, industrial, oil and gas, and offshore sectors in the United Kingdom, Europe, North America, and internationally. It operates through four segments: Energy, Air Management, Security & Smart Technology, and Ergonomics.
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