JPMorgan Chase & Co. Cuts Mondi (LON:MNDI) Price Target to GBX 840

Key Points

• JPMorgan Chase & Co. lowered its price target on Mondi from GBX 1,040 to GBX 840 while keeping a neutral rating on the stock.
• The new target still implies about 22.5% upside from Mondi’s current share price, even after the cut.
• Other analysts remain mixed: Deutsche Bank kept a hold rating, Citigroup trimmed its target but maintained a buy rating, and the broader consensus is Moderate Buy with an average target of GBX 985.

Mondi (LON:MNDI - Get Free Report) had its target price decreased by research analysts at JPMorgan Chase & Co. from GBX 1,040 to GBX 840 in a report released on Thursday,Digital Look reports. The brokerage currently has a "neutral" rating on the stock. JPMorgan Chase & Co.'s target price would indicate a potential upside of 22.52% from the company's current price.

MNDI has been the subject of a number of other research reports. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and issued a GBX 760 target price on shares of Mondi in a report on Monday, May 11th. Citigroup cut their price objective on Mondi from GBX 1,000 to GBX 940 and set a "buy" rating on the stock in a research note on Tuesday, April 28th. Two equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of GBX 985.

Mondi Stock Performance

LON:MNDI opened at GBX 685.60 on Thursday. The stock's 50-day simple moving average is GBX 735.82 and its 200 day simple moving average is GBX 824.35. Mondi has a twelve month low of GBX 667 and a twelve month high of GBX 1,219.50. The company has a quick ratio of 1.14, a current ratio of 1.53 and a debt-to-equity ratio of 60.89. The firm has a market capitalization of £3.02 billion, a PE ratio of 18.33, a price-to-earnings-growth ratio of 0.76 and a beta of 0.58.

Insiders Place Their Bets

In other Mondi news, insider Mike Powell bought 42 shares of the firm's stock in a transaction dated Tuesday, July 7th. The stock was bought at an average cost of GBX 710 per share, with a total value of £298.20. Also, insider Andrew King acquired 42 shares of the firm's stock in a transaction on Tuesday, July 7th. The shares were bought at an average cost of GBX 710 per share, with a total value of £298.20. Over the last quarter, insiders have bought 5,162 shares of company stock worth $3,864,590. Corporate insiders own 0.20% of the company's stock.

About Mondi

Mondi plc, together with its subsidiaries, engages in the manufacture and sale of packaging and paper solutions in Africa, Western Europe, Emerging Europe, North America, South America, Asia, Australia, and internationally. The company operates in three segments: Corrugated Packaging, Flexible Packaging, and Uncoated Fine Paper. The Corrugated Packaging segment provides virgin and recycled containerboards for fresh fruit packaging and heavy and fragile goods transport packaging applications; and corrugated solutions, such as corrugated boxes and packaging products.

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