JPMorgan Chase & Co. Trims M&G (LON:MNG) Target Price to GBX 227

M&G (LON:MNG) had its price objective dropped by analysts at JPMorgan Chase & Co. from GBX 235 ($2.89) to GBX 227 ($2.79) in a research report issued on Monday, June 29th, Digital Look reports. The brokerage currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price would suggest a potential upside of 33.37% from the company’s previous close.

Several other equities analysts have also recently issued reports on the company. Royal Bank of Canada raised their price target on M&G from GBX 160 ($1.97) to GBX 170 ($2.09) and gave the company an “outperform” rating in a report on Friday, June 5th. Berenberg Bank started coverage on M&G in a report on Tuesday, June 23rd. They set a “buy” rating and a GBX 200 ($2.46) target price on the stock. Barclays restated an “equal weight” rating on shares of M&G in a report on Thursday, June 11th. Finally, Deutsche Bank restated a “buy” rating on shares of M&G in a report on Monday, June 22nd. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of GBX 217.33 ($2.67).

M&G stock traded up GBX 1.95 ($0.02) during mid-day trading on Monday, hitting GBX 170.20 ($2.09). The stock had a trading volume of 6,400,671 shares. The stock has a 50-day simple moving average of GBX 150.41 and a two-hundred day simple moving average of GBX 178.95. The stock has a market capitalization of $4.43 billion and a PE ratio of 3.96. M&G has a 12 month low of GBX 86.40 ($1.06) and a 12 month high of £113.95 ($140.23). The company has a current ratio of 5.02, a quick ratio of 0.99 and a debt-to-equity ratio of 153.17.

In other M&G news, insider Massimo Tosato acquired 1,000 shares of the business’s stock in a transaction dated Wednesday, June 17th. The shares were acquired at an average price of GBX 163 ($2.01) per share, for a total transaction of £1,630 ($2,005.91).

M&G Company Profile

M&G plc, a holding company, through its subsidiaries, operates as a savings and investment company. The company manages investments for individuals and large institutional investors, such as pension funds around the world. Its investments include bonds, equities, alternatives, real estate, infrastructure, and multi-asset classes.

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Analyst Recommendations for M&G (LON:MNG)

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