IMI (LON:IMI) had its price objective cut by equities researchers at Bank of America from GBX 1,100 ($14.37) to GBX 1,000 ($13.07) in a report issued on Wednesday. The brokerage currently has a “neutral” rating on the stock. Bank of America‘s price target points to a potential upside of 3.79% from the stock’s current price.
Several other research analysts have also commented on IMI. UBS Group reaffirmed a “neutral” rating on shares of IMI in a report on Friday, September 14th. BNP Paribas lowered shares of IMI to an “underperform” rating and decreased their price target for the company from GBX 1,150 ($15.03) to GBX 1,000 ($13.07) in a report on Tuesday, September 18th. Credit Suisse Group lowered shares of IMI to a “neutral” rating and decreased their price target for the company from GBX 1,340 ($17.51) to GBX 1,250 ($16.33) in a report on Friday, October 5th. Liberum Capital lowered shares of IMI to a “sell” rating in a report on Thursday, November 8th. Finally, Peel Hunt reaffirmed an “add” rating on shares of IMI in a report on Thursday, November 8th. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of GBX 1,167 ($15.25).
Shares of IMI stock opened at GBX 963.50 ($12.59) on Wednesday. IMI has a 1-year low of GBX 1,093 ($14.28) and a 1-year high of GBX 1,453 ($18.99).
IMI plc designs, manufactures, and services engineered products that control the precise movement of fluids worldwide. The company's IMI Critical Engineering division offers critical flow control solutions. It provides anti-surge valve and actuator systems to liquefied natural gas compression facilities; integrated flow control systems for critical applications in fluid catalytic cracking; valves into the ethylene and polypropylene production processes, as well as delayed coking; actuation systems to operate industrial valves; and turbine by-pass valves for conventional and nuclear power plants.
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