FirstGroup plc (FGP) Rating Lowered to Reduce at HSBC
HSBC cut shares of FirstGroup plc (LON:FGP) to a reduce rating in a research report report published on Thursday morning. HSBC currently has GBX 95 ($1.18) price objective on the transport operator’s stock, down from their prior price objective of GBX 105 ($1.30).
A number of other brokerages have also issued reports on FGP. Canaccord Genuity initiated coverage on shares of FirstGroup plc in a research note on Monday, September 19th. They set a hold rating and a GBX 110 ($1.36) target price for the company. Deutsche Bank AG initiated coverage on shares of FirstGroup plc in a research note on Wednesday, September 21st. They issued a sell rating and a GBX 94 ($1.17) price objective for the company. Shore Capital reaffirmed a buy rating on shares of FirstGroup plc in a research note on Friday, November 18th. Goldman Sachs Group Inc. lifted their price objective on shares of FirstGroup plc from GBX 146 ($1.81) to GBX 168 ($2.08) and gave the company a conviction-buy rating in a research note on Wednesday, October 26th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of FirstGroup plc from GBX 140 ($1.74) to GBX 141 ($1.75) and gave the company an overweight rating in a research note on Wednesday, November 16th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of Hold and an average price target of GBX 118.23 ($1.47).
FirstGroup plc (LON:FGP) opened at 105.50 on Thursday. The company has a 50 day moving average price of GBX 107.22 and a 200 day moving average price of GBX 104.83. FirstGroup plc has a 12 month low of GBX 79.55 and a 12 month high of GBX 116.10. The stock’s market capitalization is GBX 1.27 billion.
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In other FirstGroup plc news, insider Tim O’Toole bought 7,723 shares of the stock in a transaction that occurred on Friday, November 25th. The shares were acquired at an average price of GBX 102 ($1.27) per share, with a total value of £7,877.46 ($9,772.31).
FirstGroup plc Company Profile
FirstGroup plc is a transport operator in the United Kingdom and North America. The Company operates through five segments: First Student, First Transit, Greyhound, First Bus and First Rail. The First Student is a provider of student transportation in North America and operates a fleet of over 47,000 school buses, with over six million student journeys per school day.
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