Melrose Industries (MRO) Price Target Cut to GBX 230 by Analysts at Goldman Sachs Group

Melrose Industries (LON:MRO) had its price objective lowered by Goldman Sachs Group from GBX 240 ($3.14) to GBX 230 ($3.01) in a research note published on Tuesday morning. The firm currently has a conviction-buy rating on the stock.

Several other research analysts have also weighed in on MRO. JPMorgan Chase & Co. cut their price objective on shares of Melrose Industries from GBX 285 ($3.72) to GBX 245 ($3.20) and set an overweight rating on the stock in a report on Tuesday, December 4th. Royal Bank of Canada reiterated a top pick rating on shares of Melrose Industries in a report on Tuesday, December 18th. Deutsche Bank reiterated a buy rating on shares of Melrose Industries in a report on Wednesday, November 14th. Peel Hunt reiterated a buy rating on shares of Melrose Industries in a report on Tuesday, November 13th. Finally, Barclays cut their price objective on shares of Melrose Industries from GBX 260 ($3.40) to GBX 250 ($3.27) and set an overweight rating on the stock in a report on Monday, October 15th. Eight analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. The stock has a consensus rating of Buy and an average price target of GBX 250.50 ($3.27).

Shares of MRO stock opened at GBX 170.80 ($2.23) on Tuesday. Melrose Industries has a 1-year low of GBX 2.13 ($0.03) and a 1-year high of GBX 261.90 ($3.42).



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

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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