Morgan Stanley Lowers IMI (IMI) Price Target to GBX 1,240
IMI (LON:IMI) had its target price cut by stock analysts at Morgan Stanley from GBX 1,290 ($16.86) to GBX 1,240 ($16.20) in a report issued on Wednesday. The brokerage presently has an “overweight” rating on the stock. Morgan Stanley’s price objective points to a potential upside of 35.89% from the stock’s previous close.
A number of other analysts also recently weighed in on IMI. Jefferies Financial Group reiterated a “buy” rating on shares of IMI in a research report on Wednesday, September 5th. Liberum Capital downgraded IMI to a “sell” rating and cut their target price for the company from GBX 1,275 ($16.66) to GBX 1,020 ($13.33) in a research report on Thursday, September 6th. UBS Group reiterated a “neutral” rating on shares of IMI in a research report on Friday, September 14th. BNP Paribas downgraded IMI to an “underperform” rating and cut their target price for the company from GBX 1,150 ($15.03) to GBX 1,000 ($13.07) in a research report on Tuesday, September 18th. Finally, Credit Suisse Group downgraded IMI to a “neutral” rating and dropped their price objective for the stock from GBX 1,340 ($17.51) to GBX 1,250 ($16.33) in a research report on Friday, October 5th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of GBX 1,218.21 ($15.92).
LON:IMI opened at GBX 912.50 ($11.92) on Wednesday. IMI has a fifty-two week low of GBX 1,093 ($14.28) and a fifty-two week high of GBX 1,453 ($18.99).
IMI plc designs, manufactures, and services engineered products that control the precise movement of fluids worldwide. The company's IMI Critical Engineering division offers critical flow control solutions. It provides anti-surge valve and actuator systems to liquefied natural gas compression facilities; integrated flow control systems for critical applications in fluid catalytic cracking; valves into the ethylene and polypropylene production processes, as well as delayed coking; actuation systems to operate industrial valves; and turbine by-pass valves for conventional and nuclear power plants.
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