Market's view on Weir Group
Published on April 2024
- There has been a significant volume of shares traded with many transactions being sales.
- JPMorgan has lowered the price target for Weir Group but maintained an ‘overweight’ rating.
- Peel Hunt provided a positive long-term earnings forecast for Weir Group and praised its compounding growth potential.
- Weir Group’s announcement of a 20% operating margin target by 2026 has been well received, doubling its cost-saving target to £60 million.
- Weir Group has acquired SentianAI, a company specialising in AI for mining, enhancing Weir’s digital capabilities in productivity and sustainability.
- Analysts from Peel Hunt and Bank of America have raised their price targets for Weir Group, citing growth potential and strong financial guidance.
- Deutsche Bank and Jefferies have also raised their price targets for Weir Group based on performance expectations.
- Peel Hunt highlights Weir Group as a compelling investment opportunity with a recurring revenue profile, expecting significant improvement in margins and revenue.
- Société Générale raised its price target for Weir Group, supporting the positive outlook.
- There is a general optimism about Weir Group’s financial health and growth trajectory with several upgrades in price targets and positive analyst reports.