Peel Hunt Reaffirms "Buy" Rating for discoverIE Group (LON:DSCV)

Key Points

• Peel Hunt reiterated its Buy rating on discoverIE Group and kept a GBX 1,000 price target, implying about 33.7% upside from the prior close.
• Broker sentiment remains mostly positive overall, with six analysts rating the stock Buy and two rating it Hold; the consensus target is GBX 894.38.
• discoverIE shares rose 7.6% to GBX 748 in Friday trading after the update, moving near the upper end of its 12-month range of GBX 505 to GBX 800.

discoverIE Group (LON:DSCV - Get Free Report)'s stock had its "buy" rating restated by analysts at Peel Hunt in a note issued to investors on Friday,Digital Look reports. They currently have a GBX 1,000 price objective on the stock. Peel Hunt's target price would indicate a potential upside of 33.69% from the company's previous close.

DSCV has been the subject of several other research reports. Jefferies Financial Group reiterated a "hold" rating and issued a GBX 685 target price on shares of discoverIE Group in a research note on Thursday, June 4th. Stifel Nicolaus reaffirmed a "buy" rating and issued a GBX 1,000 price objective on shares of discoverIE Group in a report on Friday, April 17th. Berenberg Bank lifted their price objective on shares of discoverIE Group from GBX 950 to GBX 1,050 and gave the company a "buy" rating in a research note on Friday, June 5th. Deutsche Bank Aktiengesellschaft reissued a "buy" rating and set a GBX 870 target price on shares of discoverIE Group in a report on Tuesday, June 23rd. Finally, Royal Bank Of Canada cut discoverIE Group to a "sector perform" rating and set a GBX 800 price target for the company. in a research report on Friday, June 5th. Six research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of GBX 894.38.

discoverIE Group Trading Up 7.6%

Shares of DSCV stock traded up GBX 53 during trading hours on Friday, hitting GBX 748. 855,053 shares of the company's stock traded hands, compared to its average volume of 1,161,642. The stock's 50 day simple moving average is GBX 700.71 and its 200 day simple moving average is GBX 644.61. The stock has a market cap of £719.03 million, a PE ratio of 25.44 and a beta of 1.28. discoverIE Group has a 12 month low of GBX 505 and a 12 month high of GBX 800. The company has a quick ratio of 0.96, a current ratio of 1.45 and a debt-to-equity ratio of 72.98.

discoverIE Group (LON:DSCV - Get Free Report) last announced its quarterly earnings data on Wednesday, June 3rd. The company reported GBX 41.30 earnings per share for the quarter. The firm had revenue of £443.30 million for the quarter. discoverIE Group had a net margin of 6.54% and a return on equity of 9.04%. On average, sell-side analysts anticipate that discoverIE Group will post 37.5 EPS for the current year.

About discoverIE Group

discoverIE Group plc is an international group of businesses that design and manufacture innovative electronic components for industrial use. The Group provides application-specific components to original equipment manufacturers (“OEMs”) internationally, with a focus on key markets driven by structural growth and increasing electronic content, namely renewable energy, medical, transportation, security, and industrial & connectivity. The Group employs c.4,500 people across 20 countries. Its principal operating units are located in Continental Europe, the UK, China, Sri Lanka, India, Thailand, Mexico and the USA.

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