Melrose Industries’ (MRO) Buy Rating Reaffirmed at Bank of America

Melrose Industries (LON:MRO)‘s stock had its “buy” rating reiterated by Bank of America in a research note issued on Thursday, Digital Look reports. They currently have a GBX 230 ($3.01) price target on the stock. Bank of America‘s target price would indicate a potential upside of 14.37% from the company’s previous close.

A number of other analysts have also weighed in on the company. Peel Hunt restated a “buy” rating on shares of Melrose Industries in a report on Monday, September 2nd. Citigroup upped their target price on Melrose Industries from GBX 220 ($2.87) to GBX 230 ($3.01) and gave the stock a “buy” rating in a report on Monday, September 9th. JPMorgan Chase & Co. upped their target price on Melrose Industries from GBX 250 ($3.27) to GBX 265 ($3.46) and gave the stock an “overweight” rating in a report on Friday, September 6th. Goldman Sachs Group restated a “buy” rating on shares of Melrose Industries in a report on Monday, September 23rd. Finally, Royal Bank of Canada restated a “top pick” rating on shares of Melrose Industries in a report on Wednesday. Nine analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Melrose Industries currently has an average rating of “Buy” and a consensus target price of GBX 242 ($3.16).

Melrose Industries stock opened at GBX 201.10 ($2.63) on Thursday. The business has a fifty day moving average of GBX 189.54 and a two-hundred day moving average of GBX 184.20. The company has a quick ratio of 0.68, a current ratio of 1.08 and a debt-to-equity ratio of 58.32. The firm has a market cap of $9.77 billion and a P/E ratio of -30.94. Melrose Industries has a twelve month low of GBX 145.95 ($1.91) and a twelve month high of GBX 209.30 ($2.73).

About Melrose Industries

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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