Reaffirmed: Meggitt (LON:MGGT) Outperform Rating Maintained by Analysts at RBC Capital Markets; GBX 420 Target in Place

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Meggitt (LON:MGGT) Rating Reaffirmed

In a recent report issued to clients and investors on 7 December, The Outperform rating of Meggitt (LON:MGGT) shares was has decided to restate at RBC Capital Markets, who now has a GBX 420 Estimated Target Price on the stock. RBC Capital Markets’s Estimated Target Price provides a possible upside of 10.82% from the current stock price of the company.

From a total of 20 analysts covering Meggitt PLC (LON:MGGT) stock, 7 rate it a ”Buy”, 1 a “Sell”, and 13 a ”Hold”. This means that 33% of the ratings are positive. The highest target price is GBX 550 while the lowest target price is GBX 360. The mean of all analyst targets is GBX 430.3 with a 25.49% above today’s (GBX 378) stock price. Meggitt PLC was the topic of 63 analyst reports since August 4, 2015 according to the firm StockzIntelligence Inc. Deutsche Bank maintained shares on December 4 with “Hold” rating. RBC Capital Markets maintained shares with “Outperform” rating and GBX 420 target share price in a report from a November 16. Bernstein maintained MGGT stock in a recent report from December 1 with “Market Perform” rating. UBS maintained the rating on November 10. UBS has a “Neutral” rating and a GBX 400 price target on shares. Finally, Credit Suisse maintained the stock with “Underperform” rating in a report issued on a November 24.

Approximately 1.10M shares of stock traded hands. Meggitt plc (LON:MGGT) has declined 28.46% since May 8, 2015 and is downtrending. It has underperformed by 27.38% the S&P500.

Reaffirmed: Meggitt (LON:MGGT) Outperform Rating Maintained by Analysts at RBC Capital Markets; GBX 420 Target in Place

Meggitt PLC is a United Kingdom-based engineering company. The company has a market cap of 2.93 billion GBP. The Firm is engaged in designing and manufacturing of components and sub-systems providing functionality in applications within civil aerospace, military and energy markets. It has 15.62 P/E ratio. The Firm manages its businesses under the key divisions of Meggitt Aircraft Braking Systems, Meggitt Control Systems, Meggitt Polymers & Composites, Meggitt Sensing Systems and the Meggitt Equipment Group.

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