Morgan Advanced Materials (MGAM) Price Target Cut to GBX 345
Morgan Advanced Materials (LON:MGAM) had its price target trimmed by JPMorgan Chase & Co. from GBX 410 ($5.36) to GBX 345 ($4.51) in a research note issued to investors on Tuesday. The firm currently has an overweight rating on the stock.
A number of other equities research analysts also recently issued reports on the stock. Berenberg Bank raised shares of Morgan Advanced Materials to a buy rating and upped their price objective for the stock from GBX 330 ($4.31) to GBX 420 ($5.49) in a research report on Monday, August 6th. Jefferies Financial Group reaffirmed a hold rating on shares of Morgan Advanced Materials in a research report on Wednesday, September 5th. Peel Hunt reaffirmed a buy rating on shares of Morgan Advanced Materials in a research report on Thursday, September 6th. Finally, Royal Bank of Canada assumed coverage on shares of Morgan Advanced Materials in a research report on Tuesday, November 20th. They issued a sector performer rating and a GBX 310 ($4.05) price objective for the company. Five analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The company has a consensus rating of Hold and an average target price of GBX 374.44 ($4.89).
MGAM opened at GBX 257.20 ($3.36) on Tuesday. Morgan Advanced Materials has a fifty-two week low of GBX 277.20 ($3.62) and a fifty-two week high of GBX 366.80 ($4.79).
About Morgan Advanced Materials
Morgan Advanced Materials plc operates as an advanced materials science and engineering company that focuses on ceramics, carbon, and composites primarily in the United Kingdom. The company offers insulating fiber, board, paper, brick, and monolithic products; crucibles for metals processing; electrical carbon and graphite products; seals and bearings; ceramic cores for investment casting; structural ceramics; and ballistic protection products, as well as braze alloys.
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