IMI (IMI) Downgraded by Credit Suisse Group
IMI (LON:IMI) was downgraded by Credit Suisse Group to an “underperform” rating in a research note issued to investors on Friday. They presently have a GBX 850 ($11.11) price target on the stock, down from their previous price target of GBX 1,050 ($13.72). Credit Suisse Group’s target price would suggest a potential downside of 5.50% from the company’s current price.
A number of other brokerages have also weighed in on IMI. Jefferies Financial Group reissued a “buy” rating on shares of IMI in a report on Wednesday, September 5th. Liberum Capital lowered shares of IMI to a “sell” rating and lowered their price target for the company from GBX 1,275 ($16.66) to GBX 1,020 ($13.33) in a report on Thursday, September 6th. BNP Paribas lowered shares of IMI to an “underperform” rating and lowered their price target for the company from GBX 1,150 ($15.03) to GBX 1,000 ($13.07) in a report on Tuesday, September 18th. UBS Group reaffirmed a “neutral” rating on shares of IMI in a report on Friday, September 14th. Finally, Peel Hunt reaffirmed an “add” rating on shares of IMI in a report on Thursday, November 8th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of GBX 1,189.64 ($15.54).
Shares of IMI stock opened at GBX 897.50 ($11.73) on Friday. IMI has a 12-month low of GBX 1,093 ($14.28) and a 12-month high of GBX 1,453 ($18.99).
IMI plc designs, manufactures, and services engineered products that control the precise movement of fluids worldwide. The company's IMI Critical Engineering division offers critical flow control solutions. It provides anti-surge valve and actuator systems to liquefied natural gas compression facilities; integrated flow control systems for critical applications in fluid catalytic cracking; valves into the ethylene and polypropylene production processes, as well as delayed coking; actuation systems to operate industrial valves; and turbine by-pass valves for conventional and nuclear power plants.
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