JPMorgan lowered the firm’s price target on Ferguson (FERG) to $190 from $205 and keeps an Overweight rating on the shares. Coming away from a Q2 print that missed again on margins, the firm recently hosted management for a few days of meetings and notes that markets are expected to remain challenged in the near-term. The firm’s lowered target reflects lower estimates as well as a 10% discount to peers, the analyst noted.
Confident Investing Starts Here:
- Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on FERG:
- Ferguson price target lowered to 15,000 GBp from 16,350 GBp at Morgan Stanley
- Ferguson initiated with a Peer Perform at Wolfe Research
- Ferguson PLC (FERG) Declares Q2 Dividend: Important Details for Shareholders
- Ferguson plc Navigates Mixed Earnings Call
- Ferguson PLC: Hold Rating Amid Margin Compression and Subdued Demand Outlook
Looking for a trading platform? Check out TipRanks' Best Online Brokers , and find the ideal broker for your trades.
Report an Issue