Connect Group PLC (LON:CNCT) Price Target Cut to GBX 144

Connect Group PLC (LON:CNCT) had its target price cut by equities research analysts at J P Morgan Chase & Co from GBX 152 ($1.97) to GBX 144 ($1.87) in a report issued on Tuesday, July 25th, MarketBeat reports. The brokerage presently has an “overweight” rating on the stock. J P Morgan Chase & Co’s price objective indicates a potential upside of 44.00% from the company’s previous close.

Several other equities analysts have also recently weighed in on CNCT. Peel Hunt reissued an “add” rating and issued a GBX 167 ($2.17) target price on shares of Connect Group PLC in a research note on Tuesday, April 25th. Liberum Capital reissued a “buy” rating and issued a GBX 170 ($2.21) target price on shares of Connect Group PLC in a research note on Monday, May 1st. FinnCap reissued a “buy” rating and issued a GBX 187 ($2.43) target price on shares of Connect Group PLC in a research note on Monday, July 24th. Shore Capital raised shares of Connect Group PLC to a “buy” rating in a research note on Thursday, July 20th. Finally, Berenberg Bank reissued a “buy” rating and issued a GBX 185 ($2.40) target price on shares of Connect Group PLC in a research note on Tuesday, April 25th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of GBX 157.60 ($2.05).

Shares of Connect Group PLC (LON CNCT) traded down 2.20% during trading on Tuesday, hitting GBX 100.00. 62,684 shares of the company were exchanged. The company’s 50-day moving average price is GBX 107.11 and its 200 day moving average price is GBX 125.58. Connect Group PLC has a 12 month low of GBX 96.00 and a 12 month high of GBX 168.00. The stock’s market cap is GBX 245.00 million.

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In other news, insider Mark Cashmore bought 108,000 shares of the company’s stock in a transaction dated Friday, July 7th. The stock was bought at an average price of GBX 110 ($1.43) per share, with a total value of £118,800 ($154,225.63).

Connect Group PLC Company Profile

Connect Group PLC is a United Kingdom-based distribution company. The Company’s segments include Connect News & Media: News Distribution (Smiths News); Connect News & Media: Media (DMD); Connect Parcel Freight (Tuffnells); and Connect Books (Bertrams, Dawson Books and Wordery). Smiths News segment distributes newspapers and magazines to approximately 30,000 retailers across England and Wales from over 40 distribution centers.

Analyst Recommendations for Connect Group PLC (LON:CNCT)

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