JPMorgan Chase & Co. Increases BAE Systems (LON:BA) Price Target to GBX 600

BAE Systems (LON:BA) had its price objective lifted by stock analysts at JPMorgan Chase & Co. from GBX 550 ($7.32) to GBX 600 ($7.99) in a report issued on Wednesday, May 23rd. The brokerage presently has an underweight rating on the stock. JPMorgan Chase & Co.s price objective suggests a potential downside of 7.95% from the stocks previous close.

Several other equities research analysts have also recently weighed in on the company. Berenberg Bank upgraded BAE Systems to a buy rating and boosted their target price for the stock from GBX 600 ($7.99) to GBX 700 ($9.32) in a research note on Tuesday, April 24th. Goldman Sachs Group reiterated a conviction-buy rating on shares of BAE Systems in a research note on Friday, April 6th. Citigroup reiterated a buy rating and issued a GBX 750 ($9.99) price objective on shares of BAE Systems in a research note on Tuesday, March 27th. Deutsche Bank reduced their price objective on BAE Systems from GBX 730 ($9.72) to GBX 708 ($9.43) and set a buy rating for the company in a research note on Monday, February 26th. Finally, Beaufort Securities reiterated a buy rating and issued a GBX 685 ($9.12) price objective on shares of BAE Systems in a research note on Thursday, February 22nd. Two analysts have rated the stock with a sell rating, three have issued a hold rating, five have given a buy rating and one has given a strong buy rating to the companys stock. The company has an average rating of Hold and a consensus target price of GBX 646.82 ($8.61).

BA stock traded up GBX 33.80 ($0.45) during trading on Wednesday, hitting GBX 651.80 ($8.68). 3,828,214 shares of the companys stock were exchanged, compared to its average volume of 9,870,000. BAE Systems has a 52-week low of GBX 533.50 ($7.10) and a 52-week high of GBX 682.50 ($9.09).

In other BAE Systems news, insider Peter Lynas sold 10,525 shares of the businesss stock in a transaction that occurred on Thursday, April 12th. The stock was sold at an average price of GBX 591 ($7.87), for a total value of 62,202.75 ($82,815.54). In the last quarter, insiders acquired 75 shares of company stock valued at $45,221.

This article provided by NewsEdge.