Electrocomponents (LON:ECM) was upgraded by research analysts at Numis Securities to a “buy” rating in a note issued to investors on Thursday. The brokerage presently has a GBX 945 ($12.58) price target on the stock, up from their previous price target of GBX 705 ($9.39). Numis Securities’ target price would indicate a potential upside of 27.84% from the company’s previous close.
A number of other brokerages have also recently commented on ECM. HSBC cut Electrocomponents to a “hold” rating and upped their price target for the company from GBX 745 ($9.92) to GBX 800 ($10.65) in a research note on Tuesday, June 5th. Liberum Capital upped their price target on Electrocomponents from GBX 690 ($9.19) to GBX 780 ($10.38) and gave the company a “buy” rating in a research note on Monday, June 11th. Shore Capital reissued a “sell” rating on shares of Electrocomponents in a research note on Thursday, May 24th. Finally, Peel Hunt increased their target price on Electrocomponents from GBX 650 ($8.65) to GBX 690 ($9.19) and gave the stock an “add” rating in a research note on Thursday, May 24th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of GBX 700.44 ($9.33).
Shares of ECM stock opened at GBX 739.20 ($9.84) on Thursday. Electrocomponents has a one year low of GBX 467.90 ($6.23) and a one year high of GBX 713.05 ($9.49).
In related news, insider David Egan sold 700 shares of the stock in a transaction that occurred on Friday, June 8th. The stock was sold at an average price of GBX 709 ($9.44), for a total transaction of £4,963 ($6,607.64).
Electrocomponents plc, together with its subsidiaries, distributes various electronics and industrial products in Northern Europe, Southern Europe, Central Europe, the Asia Pacific, and the Americas. The company distributes semiconductor products, including microcontrollers, voltage regulators, transistors, and diodes; and interconnectors, passives, and electromechanical components, such as resistors, switches, and heavy-duty connectors for industrial applications and power supplies.
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