South32’s (LON:S32) Neutral Rating Reiterated at Macquarie

South32 Ltd (LON:S32)‘s stock had its “neutral” rating reiterated by research analysts at Macquarie in a research note issued to investors on Thursday, September 14th. They currently have a GBX 190 ($2.56) target price on the stock. Macquarie’s price objective would indicate a potential upside of 1.20% from the stock’s previous close.

Several other analysts also recently issued reports on S32. Jefferies Group LLC downgraded shares of South32 to a “hold” rating and reduced their price target for the company from GBX 225 ($3.03) to GBX 170 ($2.29) in a research report on Thursday, June 8th. Deutsche Bank AG lifted their price objective on shares of South32 from GBX 150 ($2.02) to GBX 160 ($2.16) and gave the stock a “hold” rating in a report on Thursday, June 22nd. Credit Suisse Group reaffirmed an “outperform” rating and set a GBX 180 ($2.43) price objective on shares of South32 in a report on Tuesday, June 27th. Barclays PLC reaffirmed an “overweight” rating and set a GBX 210 ($2.83) price objective on shares of South32 in a report on Friday, July 14th. Finally, HSBC Holdings plc downgraded shares of South32 to a “hold” rating and cut their price objective for the stock from GBX 190 ($2.56) to GBX 175 ($2.36) in a report on Friday, July 14th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the stock. The company has an average rating of “Hold” and an average target price of GBX 174.73 ($2.36).

Shares of South32 (LON S32) traded up 1.07% during mid-day trading on Thursday, hitting GBX 189.75. 2,586,149 shares of the stock were exchanged. South32 has a 12-month low of GBX 135.00 and a 12-month high of GBX 196.75. The stock’s 50 day moving average price is GBX 183.06 and its 200-day moving average price is GBX 168.46. The stock’s market capitalization is GBX 10.05 billion.

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