JPMorgan Chase & Co. Has Lowered Expectations for Mondi (LON:MNDI) Stock Price

Key Points

• JPMorgan cut Mondi’s price target from GBX 840 to GBX 800 while maintaining a “neutral” rating, implying 10.33% downside from the prior close.
• Analyst views remain mixed: Deutsche Bank reiterated “hold,” while Citigroup and Jefferies retained “buy” ratings despite reducing their targets. Mondi has a consensus “Moderate Buy” rating and an average target of GBX 896.25.
• Mondi shares rose to GBX 892.20 during Friday trading, near the analyst consensus target, while insiders purchased shares recently; insiders own 0.20% of the company.

Mondi (LON:MNDI - Get Free Report) had its price objective reduced by research analysts at JPMorgan Chase & Co. from GBX 840 to GBX 800 in a research note issued to investors on Friday,Digital Look reports. The brokerage currently has a "neutral" rating on the stock. JPMorgan Chase & Co.'s price target points to a potential downside of 10.33% from the stock's previous close.

A number of other research analysts also recently commented on MNDI. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and issued a GBX 760 price target on shares of Mondi in a research note on Monday, May 11th. Citigroup decreased their price objective on shares of Mondi from GBX 1,000 to GBX 940 and set a "buy" rating on the stock in a research note on Tuesday, April 28th. Finally, Jefferies Financial Group cut their target price on Mondi from GBX 1,100 to GBX 1,085 and set a "buy" rating for the company in a research note on Friday. Two analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat.com, Mondi has a consensus rating of "Moderate Buy" and a consensus target price of GBX 896.25.

Mondi Price Performance

LON MNDI traded up GBX 16.60 during midday trading on Friday, hitting GBX 892.20. The company had a trading volume of 38,066,262 shares, compared to its average volume of 12,559,008. The firm has a 50-day moving average price of GBX 729.90 and a 200-day moving average price of GBX 805.91. The company has a market capitalization of £3.93 billion, a PE ratio of 23.86, a P/E/G ratio of 0.76 and a beta of 0.58. The company has a current ratio of 1.53, a quick ratio of 1.14 and a debt-to-equity ratio of 60.89. Mondi has a twelve month low of GBX 660 and a twelve month high of GBX 1,129.50.

Insider Buying and Selling

In other news, insider Mike Powell bought 42 shares of the stock in a transaction on Tuesday, July 7th. The stock was acquired at an average price of GBX 710 per share, with a total value of £298.20. Also, insider Andrew King bought 42 shares of the stock in a transaction on Tuesday, July 7th. The stock was acquired at an average price of GBX 710 per share, with a total value of £298.20. Insiders acquired 162 shares of company stock worth $119,590 in the last 90 days. Company 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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