Spirax-Sarco Engineering (SPX) Rating Lowered to Underperform at Royal Bank of Canada
Spirax-Sarco Engineering (LON:SPX) was downgraded by stock analysts at Royal Bank of Canada to an “underperform” rating in a research report issued to clients and investors on Tuesday. They currently have a GBX 6,400 ($83.63) target price on the stock, down from their previous target price of GBX 7,400 ($96.69). Royal Bank of Canada’s target price points to a potential upside of 4.66% from the stock’s previous close.
SPX has been the subject of a number of other research reports. Numis Securities lowered shares of Spirax-Sarco Engineering to a “hold” rating and set a GBX 7,000 ($91.47) target price for the company. in a research note on Thursday, August 9th. Peel Hunt reaffirmed an “add” rating on shares of Spirax-Sarco Engineering in a research note on Wednesday, August 8th. Goldman Sachs Group lifted their price objective on shares of Spirax-Sarco Engineering from GBX 6,250 ($81.67) to GBX 6,550 ($85.59) and gave the company a “neutral” rating in a research note on Thursday, August 9th. Barclays lifted their price objective on shares of Spirax-Sarco Engineering from GBX 6,360 ($83.10) to GBX 6,600 ($86.24) and gave the company an “equal weight” rating in a research note on Thursday, August 9th. Finally, UBS Group reaffirmed a “neutral” rating and issued a GBX 7,100 ($92.77) price objective (up previously from GBX 6,350 ($82.97)) on shares of Spirax-Sarco Engineering in a research note on Thursday, October 4th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and two have issued a buy rating to the company’s stock. Spirax-Sarco Engineering has a consensus rating of “Hold” and a consensus target price of GBX 6,395 ($83.56).
Shares of LON:SPX opened at GBX 6,115 ($79.90) on Tuesday. Spirax-Sarco Engineering has a 12-month low of GBX 4,681 ($61.17) and a 12-month high of GBX 6,155 ($80.43).
Spirax-Sarco Engineering plc provides engineered solutions for the design, maintenance, and provision of industrial and commercial steam systems. It offers condensate management products, such as steam traps, condensate return pumps, and isolation valves; controls, including automatic control valves, pressure regulators, and temperature controls; and energy management products comprising metering products, boiler house products, heat transfer packages, and energy services.
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