Berenberg Seems to Have Gained Confidence In Meggitt PLC (LON:MGGT), Upgrades Stocks

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Meggitt PLC (LON:MGGT) Stock Upgrade

Berenberg has boosted shares of Meggitt PLC (LON:MGGT) to a “Buy” and at this point in time has a GBX 445.00 target PPS on the stock. This was disclosed in a recent report earlier today. Berenberg’s target PPS provides a possible upside of 25.67%.

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 429.05 with a 29.73% above today’s (GBX 354.09) stock price. Meggitt PLC was the topic of 70 analyst reports since August 4, 2015 according to the firm StockzIntelligence Inc. AlphaValue downgraded shares on December 11 to “Add” rating. Liberum Capital maintained shares with “Hold” rating and GBX 390 target share price in a report from a December 7. Societe Generale maintained MGGT stock in a recent report from December 8 with “Hold” rating. Investec maintained the rating on December 7. Investec has a “Buy” rating and a GBX 440 price target on shares. Finally, RBC Capital Markets maintained the stock with “Outperform” rating in a report issued on a December 7.

The stock decreased 2.02% or GBX 7.31 on December 14, striking GBX 354.09. Approximately 2.73 million shares of stock traded hands. Meggitt plc (LON:MGGT) has declined 31.20% since May 18, 2015 and is downtrending. It has underperformed by 26.78% the S&P500.

 Berenberg Seems to Have Gained Confidence In Meggitt PLC (LON:MGGT), Upgrades Stocks

Meggitt PLC is a United Kingdom-based engineering company. The company has a market cap of 2.74 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 14.63 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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