Morgan Advanced Materials PLC (LON:MGAM) had its target price lifted by equities research analysts at Bank of America Corporation from GBX 250 ($3.04) to GBX 280 ($3.41) in a research note issued to investors on Wednesday. The brokerage currently has an “underperform” rating on the stock. Bank of America Corporation’s target price points to a potential downside of 3.05% from the company’s current price.

Several other brokerages also recently issued reports on MGAM. Jefferies Group increased their price objective on Morgan Advanced Materials PLC from GBX 243 ($2.96) to GBX 294 ($3.58) and gave the stock a “hold” rating in a research note on Thursday, September 22nd. HSBC reissued a “buy” rating and issued a GBX 325 ($3.95) price objective on shares of Morgan Advanced Materials PLC in a research note on Monday, December 5th. Numis Securities Ltd reissued a “hold” rating and issued a GBX 295 ($3.59) price objective on shares of Morgan Advanced Materials PLC in a research note on Friday, October 28th. J P Morgan Chase & Co increased their price objective on Morgan Advanced Materials PLC from GBX 255 ($3.10) to GBX 265 ($3.22) and gave the stock a “neutral” rating in a research note on Tuesday, November 8th. Finally, Peel Hunt reissued a “buy” rating and issued a GBX 360 ($4.38) price objective on shares of Morgan Advanced Materials PLC in a research note on Monday, November 7th. Three analysts have rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of GBX 276.77 ($3.37).

Analyst Recommendations for Morgan Advanced Materials PLC (LON:MGAM)

Morgan Advanced Materials PLC (LON:MGAM) opened at 290.40 on Wednesday. The firm has a 50-day moving average price of GBX 287.94 and a 200-day moving average price of GBX 277.36. The stock’s market cap is GBX 827.06 million. Morgan Advanced Materials PLC has a 12-month low of GBX 187.50 and a 12-month high of GBX 310.80.

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About Morgan Advanced Materials PLC

Morgan Advanced Materials plc, formerly The Morgan Crucible Company plc, is a United Kingdom-based engineering company. The Company is engaged in advanced materials science and engineering of ceramics, carbon and composites. The Company’s segments include North America, Europe and Asia/Rest of World.

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