Why Has JP Morgan Cazenove Given Ibstock Plc (LON:IBST) a GBX 240.00 Price Target
JP Morgan Cazenove initiated its coverage for Ibstock Plc (LON:IBST), this morning 2 December. The Investment firm found the stock of IBST quite attractive and now has a PT of GBX 240.00 with a key Overweight rating.
The stock decreased 0.72% or GBX 1.5 on December 1, striking GBX 205.5. Approximately 321,819 shares of stock traded hands. Ibstock plc (LON:IBST) has risen 6.00% since November 2, 2015 and is uptrending. It has outperformed by 7.62% the S&P500.
Ibstock plc is a United Kingdom brick manufacturer. The company has a market cap of 827.26 million GBP. The Firm makes clay bricks and concrete products with activities in the United Kingdom and the United States. It has 7.51 P/E ratio. The Firm operates through four businesses: the United Kingdom business consisting of Ibstock Brick, Supreme and Forticrete, and the United States business consisting of Glen-Gery.