Greene King (LON:GNK) was upgraded by analysts at Morgan Stanley to an “overweight” rating in a report released on Friday, March 16th. The brokerage presently has a GBX 640 ($8.98) target price on the stock, up from their prior target price of GBX 610 ($8.56). Morgan Stanley’s price target suggests a potential upside of 34.79% from the stock’s current price.
Several other research analysts also recently commented on the company. HSBC lowered their target price on Greene King from GBX 485 ($6.81) to GBX 480 ($6.74) and set a “reduce” rating for the company in a research note on Friday, February 16th. JPMorgan Chase downgraded Greene King to an “underweight” rating and lowered their target price for the stock from GBX 650 ($9.12) to GBX 500 ($7.02) in a research note on Tuesday, January 2nd. Investec lowered their target price on Greene King from GBX 667 ($9.36) to GBX 530 ($7.44) and set a “hold” rating for the company in a research note on Friday, November 17th. Liberum Capital reissued a “buy” rating and set a GBX 690 ($9.69) target price on shares of Greene King in a research note on Monday, February 26th. Finally, Berenberg Bank restated a “sell” rating and set a GBX 450 ($6.32) price target on shares of Greene King in a report on Monday, January 8th. Five equities research analysts have rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the stock. Greene King has an average rating of “Hold” and an average price target of GBX 574.17 ($8.06).
GNK stock traded down GBX 10 ($0.14) during midday trading on Friday, reaching GBX 474.80 ($6.66). The company had a trading volume of 1,036,461 shares, compared to its average volume of 1,750,000. Greene King has a 1-year low of GBX 479.86 ($6.74) and a 1-year high of GBX 768 ($10.78).
In other news, insider Rooney Anand purchased 10,000 shares of Greene King stock in a transaction dated Wednesday, February 7th. The shares were bought at an average cost of GBX 503 ($7.06) per share, for a total transaction of £50,300 ($70,606.40).
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Greene King Company Profile
Greene King plc operates as a pub retailer and brewer in the United Kingdom. The company operates through Pub Company, Pub Partners, and Brewing & Brands segments. Its retail brands and formats include Greene King Local Pubs, Hungry Horse, Flaming Grill, Farmhouse Inns, and Chef & Brewer. The company is also involved in brewing, marketing, and selling beer under the Greene King IPA, Old Speckled Hen, Abbot Ale, and Belhaven Best brands.
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