Melrose Industries (MRO) Price Target Cut to GBX 240

Melrose Industries (LON:MRO) had its price objective lowered by Bank of America from GBX 250 ($3.27) to GBX 240 ($3.14) in a report published on Tuesday morning. The brokerage currently has a buy rating on the stock.

Several other equities analysts have also commented on the stock. Goldman Sachs Group decreased their price objective on shares of Melrose Industries from GBX 240 ($3.14) to GBX 230 ($3.01) and set a conviction-buy rating for the company in a research report on Tuesday. Royal Bank of Canada reaffirmed a top pick rating on shares of Melrose Industries in a research report on Tuesday, December 18th. JPMorgan Chase & Co. decreased their price objective on shares of Melrose Industries from GBX 285 ($3.72) to GBX 245 ($3.20) and set an overweight rating for the company in a research report on Tuesday, December 4th. Deutsche Bank reaffirmed a buy rating on shares of Melrose Industries in a research report on Wednesday, November 14th. Finally, Peel Hunt reaffirmed a buy rating on shares of Melrose Industries in a research report on Tuesday, November 13th. Eight equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company’s stock. The company currently has an average rating of Buy and an average price target of GBX 250.50 ($3.27).

MRO stock opened at GBX 170.80 ($2.23) on Tuesday. Melrose Industries has a one year low of GBX 2.13 ($0.03) and a one year high of GBX 261.90 ($3.42).

In other Melrose Industries news, insider David Alexander Roper purchased 643,602 shares of the business’s stock in a transaction that occurred on Tuesday, December 18th. The shares were bought at an average price of GBX 155 ($2.03) per share, for a total transaction of £997,583.10 ($1,303,519.01). Also, insider Justin Dowley purchased 9,531 shares of the business’s stock in a transaction that occurred on Wednesday, October 17th. The stock was acquired at an average price of GBX 174 ($2.27) per share, for a total transaction of £16,583.94 ($21,669.85).

Melrose Industries Company Profile

Melrose Industries PLC engages in the aerospace, automotive, powder metallurgy, air and security, and other industrial businesses. Its Aerospace segment supplies airframe and engine structures, landing gears, specialist technologies, and aftermarket services for commercial and military aircraft. The company's Automotive segment designs, develops, manufactures, and integrates driveline technologies for car manufacturers; and operates as an all-wheel drive systems integrator and electric powertrain systems engineer.

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Analyst Recommendations for Melrose Industries (LON:MRO)

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