Why Has Canaccord Genuity Given SIG (LON:SHI) a GBX 165 Price Target
In a recent report announced on Wednesday morning, Canaccord Genuity analyst has today started coverage for SIG (LON:SHI) shares with a “Buy” rating. The target price per share has been set to GBX 165.
From a total of 12 analysts covering SIG PLC (LON:SHI) stock, 4 rate it a ”Buy”, 0 a “Sell”, and 8 a ”Hold”. This means that 33% of the ratings are positive. The highest target price is GBX 250 while the lowest target price is GBX 130. The mean of all analyst targets is GBX 161.08 with a 30.34% above today’s (GBX 135.8) stock price. SIG PLC was the topic of 45 analyst reports since July 24, 2015 according to the firm StockzIntelligence Inc. Liberum Capital maintained shares on November 26 with “Hold” rating. Citigroup downgraded shares to “Neutral” rating and GBX 135 target share price in a report from a November 17. Deutsche Bank maintained SHI stock in a recent report from November 18 with “Hold” rating. JP Morgan maintained the rating on November 17. JP Morgan has a “Neutral” rating and a GBX 165 price target on shares. Finally, Peel Hunt maintained the stock with “Hold” rating in a report issued on a November 17.
Approximately 685,500 shares of stock traded hands. SIG plc (LON:SHI) has declined 36.19% since May 12, 2015 and is downtrending. It has underperformed by 35.39% the S&P500.
SIG Plc is a United Kingdom-based distributor of specialist building products in Europe. The company has a market cap of 809.76 million GBP. The Firm is engaged in is the supply of specialist products to construction and related markets. It has 24.33 P/E ratio. The Firm product and service offering’s three core markets include insulation and energy management, interior fit out and roofing products.
According to Zacks Investment Research, “Shanghai Petrochemical Company Ltd. is a China’s largest petrochemical company. The Company processes crude oil into synthetic fibers, resins and plastics, intermediate petrochemicals and petroleum products.” Get a free copy of the Zacks research report on SIG plc (SHI).