Citigroup Issues Positive Forecast for Victrex (LON:VCT) Stock Price

Key Points

• Citigroup raised Victrex’s price target from GBX 700 to GBX 1,000 while maintaining a “neutral” rating, implying approximately 2.46% upside from the current price.
• Other brokerages also increased their targets, but analyst sentiment remains cautious: Victrex has a consensus “Hold” rating and an average target price of GBX 761.43.
• Victrex shares opened at GBX 976, near their 12-month high of GBX 1,024, compared with a low of GBX 515; the company has a market capitalization of approximately £850.6 million.

Victrex (LON:VCT - Get Free Report) had its price target raised by stock analysts at Citigroup from GBX 700 to GBX 1,000 in a report issued on Friday, London Stock Exchange reports. The firm currently has a "neutral" rating on the stock. Citigroup's target price points to a potential upside of 2.46% from the stock's current price.

A number of other brokerages also recently issued reports on VCT. JPMorgan Chase & Co. boosted their price objective on shares of Victrex from GBX 625 to GBX 785 and gave the company a "neutral" rating in a research report on Thursday. Berenberg Bank increased their target price on Victrex from GBX 680 to GBX 870 and gave the company a "hold" rating in a report on Friday. Jefferies Financial Group reaffirmed a "hold" rating and set a GBX 595 price objective on shares of Victrex in a research report on Tuesday, July 7th. Finally, Canaccord Genuity Group cut shares of Victrex to a "buy" rating and set a GBX 725 target price on the stock. in a research note on Friday, May 15th. One equities research analyst has rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, Victrex presently has a consensus rating of "Hold" and a consensus target price of GBX 761.43.

Victrex Stock Performance

Shares of VCT stock opened at GBX 976 on Friday. The firm's 50 day moving average is GBX 785.53 and its 200 day moving average is GBX 673.74. The company has a current ratio of 2.35, a quick ratio of 1.99 and a debt-to-equity ratio of 21.30. The stock has a market capitalization of £850.64 million, a P/E ratio of -43.57, a PEG ratio of 1.92 and a beta of 0.82. Victrex has a 12 month low of GBX 515 and a 12 month high of GBX 1,024.

Victrex Company Profile

Victrex plc, through its subsidiaries, engages in the manufacture and sale of polymer solutions worldwide. The company operates through two segments, Sustainable Solutions and Medical. It develops PEEK and PAEK based polymer solutions, and semi-finished and finished parts. The company also provides specialist solutions for medical device manufacturers; sells thermoplastic polymers; sustainable solutions for energy and industrial, VAR, automotive, aerospace, and electronics markets; and engages in trading activities.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.