JPMorgan Chase & Co. Trims Victrex (VCT) Target Price to GBX 2,300

Victrex (LON:VCT) had its price objective dropped by equities researchers at JPMorgan Chase & Co. from GBX 2,800 ($36.59) to GBX 2,300 ($30.05) in a research report issued to clients and investors on Tuesday, ThisIsMoney.Co.Uk reports. The brokerage presently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price objective points to a potential upside of 11.33% from the company’s current price.

VCT has been the topic of a number of other reports. Berenberg Bank lowered their price objective on Victrex from GBX 2,600 ($33.97) to GBX 2,550 ($33.32) and set a “hold” rating on the stock in a research report on Thursday, February 7th. Peel Hunt restated an “add” rating and set a GBX 2,500 ($32.67) price objective (down from GBX 2,850 ($37.24)) on shares of Victrex in a research report on Wednesday, February 6th. Liberum Capital restated a “buy” rating on shares of Victrex in a research report on Tuesday, February 5th. UBS Group cut Victrex to a “neutral” rating and lowered their price objective for the company from GBX 2,850 ($37.24) to GBX 2,575 ($33.65) in a research report on Wednesday, May 8th. Finally, Numis Securities restated a “hold” rating and set a GBX 2,350 ($30.71) price objective (down from GBX 2,550 ($33.32)) on shares of Victrex in a research report on Monday. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of GBX 2,395 ($31.29).

VCT opened at GBX 2,066 ($27.00) on Tuesday. The company has a market cap of $1.78 billion and a PE ratio of 17.97. Victrex has a 1 year low of GBX 2,014.55 ($26.32) and a 1 year high of GBX 3,434 ($44.87).

In related news, insider Jakob Sigurdsson purchased 3,000 shares of the stock in a transaction on Tuesday, May 14th. The shares were purchased at an average cost of GBX 2,092 ($27.34) per share, for a total transaction of £62,760 ($82,007.06). Insiders acquired 6,010 shares of company stock worth $13,544,820 over the last quarter.

Victrex Company Profile

Victrex plc, through its subsidiaries, manufactures and sells polymers worldwide. The company offers VICTREX PEEK polymer materials; and biomaterial solutions for use in spine, ortho, dental, trauma, knee, cardiovascular, and orthopedic applications. It also offers specialist solutions for medical device manufacturers.

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Analyst Recommendations for Victrex (LON:VCT)

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