Royal Bank of Canada cut shares of Babcock International Group (LON:BAB) to a sector perform rating in a research note released on Monday morning. The firm currently has GBX 700 ($9.15) price objective on the stock, down from their previous price objective of GBX 1,000 ($13.07).
Several other equities research analysts have also recently commented on the company. Shore Capital restated a buy rating on shares of Babcock International Group in a research note on Friday, November 2nd. Liberum Capital reiterated a buy rating and issued a GBX 1,100 ($14.37) price objective on shares of Babcock International Group in a research report on Tuesday, October 16th. JPMorgan Chase & Co. cut their price objective on Babcock International Group from GBX 1,365 ($17.84) to GBX 998 ($13.04) and set an overweight rating for the company in a research report on Thursday, October 11th. Peel Hunt reiterated a hold rating on shares of Babcock International Group in a research report on Wednesday, September 19th. Finally, Numis Securities reiterated a buy rating on shares of Babcock International Group in a research report on Monday, September 3rd. One research analyst has rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the company. Babcock International Group currently has an average rating of Hold and a consensus target price of GBX 858.31 ($11.22).
Babcock International Group stock opened at GBX 593.60 ($7.76) on Monday. Babcock International Group has a 12 month low of GBX 604 ($7.89) and a 12 month high of GBX 1,030 ($13.46).
Babcock International Group PLC, together with its subsidiaries, provides engineering services for marine, land, aviation, and nuclear sectors in the United Kingdom and internationally. The company delivers through-life marine engineering services, including supporting naval fleets, commercial marine, engineering consultancy, weapons handling, equipment support, intelligence and cyber-security, and technical training to defense and civil customers.
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