Barclays Cuts Weir Group (WEIR) Price Target to GBX 1,900

Weir Group (LON:WEIR) had its price objective lowered by stock analysts at Barclays from GBX 2,250 ($29.40) to GBX 1,900 ($24.83) in a research note issued to investors on Friday. The brokerage currently has an “overweight” rating on the stock. Barclays’ price target indicates a potential upside of 38.08% from the stock’s current price.

A number of other brokerages have also recently commented on WEIR. JPMorgan Chase & Co. cut their price target on shares of Weir Group from GBX 2,200 ($28.75) to GBX 2,060 ($26.92) and set an “overweight” rating for the company in a research note on Friday, September 7th. Credit Suisse Group cut their price target on shares of Weir Group from GBX 2,100 ($27.44) to GBX 1,900 ($24.83) and set an “outperform” rating for the company in a research note on Tuesday, October 30th. HSBC reiterated a “buy” rating and issued a GBX 2,500 ($32.67) price target on shares of Weir Group in a research note on Monday, October 8th. Citigroup cut their target price on shares of Weir Group from GBX 2,600 ($33.97) to GBX 2,500 ($32.67) and set a “buy” rating for the company in a research note on Friday, September 7th. Finally, Royal Bank of Canada restated a “top pick” rating on shares of Weir Group in a research note on Monday, October 15th. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. The company has an average rating of “Buy” and an average price target of GBX 2,102.35 ($27.47).

Shares of WEIR stock opened at GBX 1,376 ($17.98) on Friday. Weir Group has a one year low of GBX 1,696 ($22.16) and a one year high of GBX 2,326 ($30.39).

Weir Group Company Profile

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.

Further Reading: Yield Curve

Analyst Recommendations for Weir Group (LON:WEIR)

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