Peel Hunt Cuts Morgan Advanced Materials (MGAM) Price Target to GBX 350

Morgan Advanced Materials (LON:MGAM) had its price target cut by Peel Hunt from GBX 430 ($5.62) to GBX 350 ($4.57) in a research report sent to investors on Monday morning. They currently have a buy rating on the stock.

Several other analysts also recently commented on the stock. JPMorgan Chase & Co. decreased their target price on shares of Morgan Advanced Materials from GBX 410 ($5.36) to GBX 345 ($4.51) and set an overweight rating for the company in a research report on Tuesday, December 4th. Royal Bank of Canada initiated coverage on shares of Morgan Advanced Materials in a research note on Tuesday, November 20th. They issued a sector performer rating and a GBX 310 ($4.05) price objective for the company. Bank of America reduced their price objective on shares of Morgan Advanced Materials from GBX 310 ($4.05) to GBX 250 ($3.27) and set an underperform rating for the company in a research note on Tuesday, January 8th. Finally, Berenberg Bank reduced their price objective on shares of Morgan Advanced Materials from GBX 420 ($5.49) to GBX 360 ($4.70) and set a buy rating for the company in a research note on Tuesday, January 29th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the company. The company presently has a consensus rating of Hold and a consensus target price of GBX 350 ($4.57).

MGAM stock opened at GBX 271.80 ($3.55) on Monday. Morgan Advanced Materials has a 12 month low of GBX 277.20 ($3.62) and a 12 month high of GBX 366.80 ($4.79).

In other news, insider Peter Turner acquired 100,000 shares of Morgan Advanced Materials stock in a transaction dated Wednesday, November 21st. The stock was acquired at an average cost of GBX 270 ($3.53) per share, for a total transaction of £270,000 ($352,802.82).

About Morgan Advanced Materials

Morgan Advanced Materials plc operates as an advanced materials science and engineering company that focuses on ceramics, carbon, and composites primarily in the United Kingdom. The company offers insulating fiber, board, paper, brick, and monolithic products; crucibles for metals processing; electrical carbon and graphite products; seals and bearings; ceramic cores for investment casting; structural ceramics; and ballistic protection products, as well as braze alloys.

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Analyst Recommendations for Morgan Advanced Materials (LON:MGAM)

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