Weir Group (LON: WEIR) was downgraded by investment analysts at Investec from a “buy” rating to a “hold” rating in a note issued to investors on Monday. They currently have a $35.33 (2350 GBX) target price on the stock, up from their previous target price of $33.82 (2250 GBX).
Weir Group traded down 1.39% on Monday, hitting GBX 2326.2656. Weir Group has a 52-week low of GBX 1352.00 and a 52-week high of GBX 2367.00. The stock’s 50-day moving average is currently GBX 1763.. The company’s market cap is £4.937 billion.
A number of other firms have also recently commented on WEIR. Analysts at Investec Securities downgraded shares of Weir Group to a “hold” rating in a research note to investors on Monday. They now have a $35.63 price target on the stock, up previously from $33.82. Separately, analysts at JP Morgan Cazenove raised their price target on shares of Weir Group from $37.54 to $39.04 in a research note to investors on Thursday. They now have an “overweight” rating on the stock. Finally, analysts at Citigroup raised their price target on shares of Weir Group from $28.91 to $34.54 in a research note to investors on Friday. They now have a “neutral” rating on the stock.
The Weir Group PLC operates in three segments: Minerals, Oil and Gas, and Power and Industrial. The Minerals segment designs and manufactures pumps, hydrocyclones, valves and other complementary equipment for the mining, flue gas desulphurisation and oil sands markets.
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