Morgan Advanced Materials (MGAM) Price Target Cut to GBX 250 by Analysts at Bank of America

Morgan Advanced Materials (LON:MGAM) had its target price cut by Bank of America from GBX 310 ($4.05) to GBX 250 ($3.27) in a research note released on Tuesday morning. They currently have an underperform rating on the stock.

Other equities analysts have also issued reports about the company. Peel Hunt restated a buy rating on shares of Morgan Advanced Materials in a research note on Friday, November 9th. JPMorgan Chase & Co. lowered their price target on Morgan Advanced Materials from GBX 410 ($5.36) to GBX 345 ($4.51) and set an overweight rating on the stock in a research note on Tuesday, December 4th. Finally, Royal Bank of Canada started coverage on Morgan Advanced Materials in a research note on Tuesday, November 20th. They set a sector performer rating and a GBX 310 ($4.05) price target on the stock. One research analyst has rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the company’s stock. Morgan Advanced Materials presently has an average rating of Hold and an average target price of GBX 365.56 ($4.78).

Shares of MGAM opened at GBX 271 ($3.54) on Tuesday. 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 purchased 100,000 shares of the stock in a transaction that occurred on Wednesday, November 21st. The shares were purchased at an average cost of GBX 270 ($3.53) per share, for a total transaction of £270,000 ($352,802.82).

Morgan Advanced Materials Company Profile

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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