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Goldman Sachs Group Lowers Meggitt (MGGT) Price Target to GBX 585

Meggitt (LON:MGGT) had its target price lowered by analysts at Goldman Sachs Group from GBX 626 ($8.18) to GBX 585 ($7.64) in a note issued to investors on Monday. The brokerage currently has a “neutral” rating on the stock. Goldman Sachs Group’s price objective would suggest a potential upside of 13.59% from the stock’s previous close.

Several other equities research analysts also recently issued reports on MGGT. JPMorgan Chase & Co. cut their price target on Meggitt from GBX 700 ($9.15) to GBX 650 ($8.49) and set an “overweight” rating for the company in a report on Tuesday, December 18th. Berenberg Bank raised their price target on Meggitt from GBX 570 ($7.45) to GBX 610 ($7.97) and gave the company a “buy” rating in a report on Wednesday, February 27th. Credit Suisse Group raised their price target on Meggitt from GBX 450 ($5.88) to GBX 465 ($6.08) and gave the company an “underperform” rating in a report on Wednesday, March 6th. HSBC started coverage on Meggitt in a report on Tuesday, February 12th. They set a “buy” rating and a GBX 645 ($8.43) price target for the company. Finally, Deutsche Bank raised their price target on Meggitt from GBX 515 ($6.73) to GBX 580 ($7.58) and gave the company a “hold” rating in a report on Tuesday, December 4th. Three analysts have rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the stock. Meggitt presently has an average rating of “Hold” and a consensus price target of GBX 562.78 ($7.35).

Get Meggitt alerts: LON:MGGT opened at GBX 515 ($6.73) on Monday. Meggitt has a 1-year low of GBX 430.90 ($5.63) and a 1-year high of GBX 530 ($6.93).

About Meggitt

Meggitt PLC designs and manufactures components and sub-systems for aerospace, defense, energy, medical, industrial, test, and automotive markets in the United Kingdom, rest of Europe, the United States, and internationally. It operates through Meggitt Aircraft Braking Systems, Meggitt Control Systems, Meggitt Polymers & Composites, Meggitt Sensing Systems, and Meggitt Equipment Group segments.

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