JPMorgan Chase & Co. Issues Positive Forecast for M&G (LON:MNG) Stock Price

Key Points

• JPMorgan Chase & Co. raised its target on M&G from GBX 315 to GBX 325 while maintaining a "neutral" rating, implying about a 6.95% upside from the prior close.
• Analyst views are mixed—three Buy and four Hold ratings—giving M&G a consensus rating of "Hold" with an average price target of GBX 297.57, though some firms (Goldman Sachs, Berenberg) have higher targets.
• M&G is trading near GBX 303.89 with a market cap of £7.24bn and a P/E of 24.7; it reported GBX 12.60 EPS last quarter and analysts forecast about GBX 24.25 EPS for the current fiscal year.

M&G (LON:MNG - Get Free Report) had its target price lifted by investment analysts at JPMorgan Chase & Co. from GBX 315 to GBX 325 in a research report issued to clients and investors on Friday,London Stock Exchange reports. The firm currently has a "neutral" rating on the stock. JPMorgan Chase & Co.'s price target indicates a potential upside of 6.95% from the company's previous close.

A number of other analysts have also recently issued reports on the company. UBS Group restated a "neutral" rating and set a GBX 300 price objective on shares of M&G in a research report on Tuesday. The Goldman Sachs Group boosted their price objective on M&G from GBX 300 to GBX 328 and gave the company a "buy" rating in a research report on Wednesday, January 21st. Citigroup boosted their price target on M&G from GBX 260 to GBX 288 and gave the company a "neutral" rating in a research note on Tuesday, March 24th. Berenberg Bank reaffirmed a "buy" rating and issued a GBX 342 price target on shares of M&G in a research note on Monday, February 9th. Finally, Royal Bank Of Canada boosted their price target on M&G from GBX 260 to GBX 285 and gave the company a "sector perform" rating in a research note on Tuesday, April 7th. Three research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, M&G has an average rating of "Hold" and a consensus price target of GBX 297.57.

M&G Trading Down 0.8%

MNG opened at GBX 303.89 on Friday. The stock has a market cap of £7.24 billion, a PE ratio of 24.71, a P/E/G ratio of -2.76 and a beta of 0.95. M&G has a 1 year low of GBX 213.50 and a 1 year high of GBX 324.50. The stock's 50 day simple moving average is GBX 294.29 and its 200-day simple moving average is GBX 288.95.

M&G (LON:MNG - Get Free Report) last released its quarterly earnings data on Thursday, March 12th. The company reported GBX 12.60 earnings per share (EPS) for the quarter. M&G had a return on equity of 9.49% and a net margin of 1.73%. Equities analysts forecast that M&G will post 24.2485207 earnings per share for the current fiscal year.

About M&G

M&G plc is a leading savings and investments business, managing investments for both individuals and for large institutional investors, such as pension funds, around the world. We have a single corporate identity, M&G plc, and two customer-facing brands: Prudential and M&G Investments. Prudential offers savings and insurance for customers in the UK and Europe and for asset management in South Africa. M&G Investments manages assets for clients globally. With roots stretching back more than 170 years, we have a long history of finding innovative solutions for our customers' changing needs.

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