Bank of America Lowers IMI (IMI) Price Target to GBX 1,000

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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).

About IMI

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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