Morgan Advanced Materials price target lowered to 230 GBp from 255 GBp at Jefferies

Jefferies lowered the firm’s price target on Morgan Advanced Materials (MCRUF) to 230 GBp from 255 GBp and keeps a Hold rating on the shares. The company’s recent FY25 results were a touch light of the firm’s estimates, but across the Income & Cash Flow Statements, variance was modest, the analyst tells investors in a research note. The firm added that the group’s FY26 guidance was largely as it expected, though the firm was below consensus coming into these results.