Victrex (LON:VCT) Price Target Raised to GBX 1,050

Key Points

• Canaccord Genuity raised Victrex’s price target from GBX 725 to GBX 1,050 and maintained a “buy” rating, implying 14.13% potential upside.
• Analyst sentiment remains mixed: Victrex has an overall “hold” rating, with an average price target of GBX 807.86 from seven analysts.
• Victrex shares opened at GBX 920 and were up 1.4%; the stock has traded between GBX 515 and GBX 1,024 over the past year, with a market capitalization of approximately £801.84 million.

Victrex (LON:VCT - Get Free Report) had its price objective upped by stock analysts at Canaccord Genuity Group from GBX 725 to GBX 1,050 in a note issued to investors on Tuesday, London Stock Exchange reports. The brokerage presently has a "buy" rating on the stock. Canaccord Genuity Group's price target would suggest a potential upside of 14.13% from the stock's current price.

Several other equities analysts have also commented on VCT. Berenberg Bank increased their price objective on Victrex from GBX 680 to GBX 870 and gave the company a "hold" rating in a research report on Friday, September 11th. Jefferies Financial Group restated a "hold" rating and issued a GBX 595 target price on shares of Victrex in a research report on Friday. JPMorgan Chase & Co. upped their target price on Victrex from GBX 625 to GBX 785 and gave the stock a "neutral" rating in a research note on Thursday, September 10th. Finally, Citigroup increased their price target on shares of Victrex from GBX 700 to GBX 1,000 and gave the company a "neutral" rating in a research report on Friday, September 11th. One analyst has rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average price target of GBX 807.86.

Victrex Trading Up 1.4%

LON VCT opened at GBX 920 on Tuesday. The company has a quick ratio of 1.99, a current ratio of 2.35 and a debt-to-equity ratio of 21.30. The stock's 50-day simple moving average is GBX 851.19 and its two-hundred day simple moving average is GBX 697.59. Victrex has a twelve month low of GBX 515 and a twelve month high of GBX 1,024. The company has a market capitalization of £801.84 million, a price-to-earnings ratio of -41.07, a PEG ratio of 1.92 and a beta of 0.82.

About Victrex

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.

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