Royal Mail (LON:RMG) had its price objective hoisted by analysts at Morgan Stanley from GBX 385 ($5.18) to GBX 390 ($5.25) in a research note issued on Wednesday, November 22nd. The firm presently has an “underweight” rating on the stock. Morgan Stanley’s target price would indicate a potential downside of 9.11% from the company’s previous close.
Several other brokerages have also recently commented on RMG. Credit Suisse Group cut shares of Royal Mail to an “underperform” rating and reduced their price objective for the company from GBX 492 ($6.62) to GBX 325 ($4.37) in a research note on Tuesday, October 31st. Liberum Capital restated a “sell” rating and set a GBX 385 ($5.18) target price on shares of Royal Mail in a research report on Thursday, October 26th. HSBC reissued a “buy” rating and issued a GBX 465 ($6.26) price objective on shares of Royal Mail in a research report on Monday, November 20th. Jefferies Group boosted their price objective on shares of Royal Mail from GBX 320 ($4.31) to GBX 330 ($4.44) and gave the company an “underperform” rating in a research report on Friday, November 17th. Finally, raised shares of Royal Mail to a “buy” rating and cut their price objective for the company from GBX 475 ($6.39) to GBX 465 ($6.26) in a research report on Monday, July 31st. Five equities research analysts have rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of GBX 429.50 ($5.78).
Shares of Royal Mail (LON:RMG) traded down GBX 3.01 ($0.04) during trading hours on Wednesday, hitting GBX 429.10 ($5.78). 6,965,233 shares of the stock traded hands, compared to its average volume of 5,620,000. Royal Mail has a 1-year low of GBX 367.80 ($4.95) and a 1-year high of GBX 474 ($6.38).
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About Royal Mail
Royal Mail plc provides postal services. The Company’s segments include UK Parcels, International & Letters (UKPIL), General Logistics Systems (GLS) and Other. UKPIL operates in the United Kingdom collecting and delivering parcels and letters through approximately two main networks, the Royal Mail Core Network and Parcelforce Worldwide.
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