Today Raymond James Reiterates a Strong Buy Rating on Meggitt (LON:MGGT) and a GBX 550 Target Price


Meggitt (LON:MGGT) Rating Reaffirmed

Meggitt (LON:MGGT) just had their share rating of a ‘Strong Buy’ issued by research analysts at Raymond James, who now has a GBX 550 target price on the 2.81 billion GBP market cap company or a 51.72% upside potential. This key information was announced to investors in an interesting research report on 15 December.

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 26.42% above today’s (GBX 362.8) stock price. Meggitt PLC was the topic of 72 analyst reports since August 4, 2015 according to the firm StockzIntelligence Inc. Berenberg upgraded shares on December 15 to “Buy” rating. Liberum Capital maintained shares with “Hold” rating and GBX 390 target share price in a report from a December 7. AlphaValue downgraded MGGT stock in a recent report from December 11 to “Add” rating. Investec maintained the rating on December 7. Investec has a “Buy” rating and a GBX 440 price target on shares. Finally, Societe Generale maintained the stock with “Hold” rating in a report issued on a December 8.

Approximately 1.12M shares of stock traded hands. Meggitt plc (LON:MGGT) has declined 31.20% since May 18, 2015 and is downtrending. It has underperformed by 27.52% the S&P500.

Today Raymond James Reiterates a Strong Buy Rating on Meggitt (LON:MGGT) and a GBX 550 Target Price

Meggitt PLC is a United Kingdom-based engineering company. The company has a market cap of 2.81 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 14.99 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.