Citigroup Forecasts Strong Price Appreciation for Morgan Advanced Materials (LON:MGAM) Stock

Morgan Advanced Materials (LON:MGAM) had its target price upped by Citigroup from GBX 325 ($4.06) to GBX 330 ($4.12) in a research report sent to investors on Thursday morning, Marketbeat reports. The firm currently has a buy rating on the stock.

Separately, Royal Bank of Canada cut their price target on shares of Morgan Advanced Materials from GBX 350 ($4.37) to GBX 320 ($3.99) and set an “outperform” rating on the stock in a research note on Thursday, November 7th.

Morgan Advanced Materials Price Performance

Shares of MGAM opened at GBX 267 ($3.33) on Thursday. The firm has a market capitalization of £759.78 million, a price-to-earnings ratio of 1,112.50, a PEG ratio of 0.51 and a beta of 1.34. The company has a current ratio of 2.19, a quick ratio of 1.26 and a debt-to-equity ratio of 93.89. The firm’s fifty day simple moving average is GBX 264.82 and its 200-day simple moving average is GBX 280.94. Morgan Advanced Materials has a twelve month low of GBX 231.81 ($2.89) and a twelve month high of GBX 347 ($4.33).

About Morgan Advanced Materials

Morgan Advanced Materials plc operates as a materials science and application engineering company primarily the United Kingdom. It serves customers in the industrial, transportation, petrochemical and chemical, energy, semiconductor and electronics, healthcare, and security and defense markets. The company was formerly known as The Morgan Crucible Company plc and changed its name to Morgan Advanced Materials plc in March 2013.