JPMorgan Chase & Co. Forecasts Strong Price Appreciation for M&G (LON:MNG) Stock

M&G (LON:MNG) had its target price hoisted by research analysts at JPMorgan Chase & Co. from GBX 305 to GBX 315 in a report released on Friday,London Stock Exchange reports. The brokerage presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective indicates a potential upside of 16.67% from the stock’s current price.

Several other equities analysts also recently weighed in on MNG. Berenberg Bank upgraded shares of M&G to a “buy” rating and raised their target price for the company from GBX 225 to GBX 342 in a report on Friday, October 10th. Citigroup increased their price target on shares of M&G from GBX 214 to GBX 260 and gave the company a “neutral” rating in a research report on Tuesday, July 29th. UBS Group restated a “buy” rating and set a GBX 275 price objective on shares of M&G in a research report on Friday, August 15th. Finally, Royal Bank Of Canada increased their target price on M&G from GBX 240 to GBX 265 and gave the company a “sector perform” rating in a report on Tuesday, September 9th. Three analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, M&G presently has an average rating of “Moderate Buy” and a consensus price target of GBX 280.33.

M&G Price Performance

MNG stock traded down GBX 1.40 during midday trading on Friday, hitting GBX 270. 3,741,868 shares of the stock were exchanged, compared to its average volume of 17,717,807. The stock’s 50-day moving average price is GBX 258.36 and its 200-day moving average price is GBX 248.99. The company has a debt-to-equity ratio of 218.70, a quick ratio of 0.39 and a current ratio of 0.40. The stock has a market cap of £6.39 billion, a price-to-earnings ratio of -108.00, a PEG ratio of -2.76 and a beta of 1.47. M&G has a fifty-two week low of GBX 171.55 and a fifty-two week high of GBX 279.

M&G (LON:MNG) last announced its quarterly earnings results on Wednesday, September 3rd. The company reported GBX 10.10 earnings per share for the quarter. M&G had a return on equity of 4.31% and a net margin of 1.85%. Research analysts predict that M&G will post 24.2485207 earnings per share for the current year.

M&G Company Profile

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.