Canaccord Genuity Trims Weir Group (WEIR) Target Price to GBX 2,000

Weir Group (LON:WEIR) had its price target dropped by equities research analysts at Canaccord Genuity from GBX 2,500 ($32.67) to GBX 2,000 ($26.13) in a research report issued on Thursday. The firm presently has a “buy” rating on the stock. Canaccord Genuity’s price target suggests a potential upside of 28.99% from the stock’s previous close.

A number of other research firms also recently issued reports on WEIR. JPMorgan Chase & Co. decreased their price objective on Weir Group from GBX 2,200 ($28.75) to GBX 2,060 ($26.92) and set an “overweight” rating for the company in a report on Friday, September 7th. UBS Group reiterated a “buy” rating and set a GBX 2,400 ($31.36) price objective (down from GBX 2,500 ($32.67)) on shares of Weir Group in a report on Friday, August 3rd. Credit Suisse Group decreased their price objective on Weir Group from GBX 2,100 ($27.44) to GBX 1,900 ($24.83) and set an “outperform” rating for the company in a report on Tuesday, October 30th. HSBC reiterated a “buy” rating and set a GBX 2,500 ($32.67) price objective on shares of Weir Group in a report on Monday, October 8th. Finally, Liberum Capital reiterated a “buy” rating on shares of Weir Group in a report on Tuesday, July 31st. Four investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of GBX 2,154.71 ($28.16).

Shares of LON:WEIR traded down GBX 36 ($0.47) during mid-day trading on Thursday, reaching GBX 1,550.50 ($20.26). 2,285,314 shares of the stock were exchanged, compared to its average volume of 1,360,000. Weir Group has a one year low of GBX 1,696 ($22.16) and a one year high of GBX 2,326 ($30.39).

About Weir Group

The Weir Group PLC designs, manufactures, and sells highly-engineered products and services worldwide. It operates through three segments: Minerals, Oil & Gas, and Flow Control. The Minerals segment engineers pumps, valves, rubber, crushers, screen media systems, screens, hose and pipe pools, centrifuges, pontoons and barges, hydrocyclones, wear linings, mill liners, feeders, conveyors, and washers; and offers slurry handling equipment and associated aftermarket support services for mining, and oil sands markets.

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