Jefferies analyst Andrew Douglas has maintained their bullish stance on WEIR stock, giving a Buy rating on April 20.
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Andrew Douglas has given his Buy rating due to a combination of factors that, despite a softer first-quarter order picture, still support a constructive long‑term view on Weir Group. He acknowledges that order intake declined modestly in organic constant currency terms and that the Minerals division was affected by order timing and regional mine disruptions, which may weigh on near‑term sentiment.
At the same time, Douglas highlights that group orders grew year over year, the book‑to‑bill remains comfortably above 1x, and management has reiterated full‑year guidance. He also points to the ongoing execution of the Performance Excellence programme, which has already delivered substantial cost savings toward its medium‑term target, reinforcing confidence in earnings resilience and underpinning his unchanged price target of $3705 and Buy recommendation.
In another report released on April 20, RBC Capital also maintained a Buy rating on the stock with a p4,000.00 price target.