IQE (LON:IQE) Stock Rating Reaffirmed by Citigroup

IQE (LON:IQE)‘s stock had its “buy” rating restated by stock analysts at Citigroup in a research note issued on Friday, March 23rd. They currently have a GBX 195 ($2.79) target price on the stock. Citigroup’s target price points to a potential upside of 64.28% from the company’s previous close.

Several other equities analysts have also weighed in on the stock. Canaccord Genuity restated a “buy” rating and set a GBX 190 ($2.72) target price on shares of IQE in a report on Tuesday, March 20th. Peel Hunt reduced their target price on shares of IQE from GBX 188 ($2.69) to GBX 170 ($2.43) and set a “buy” rating on the stock in a report on Tuesday, March 20th. Stifel Nicolaus restated a “buy” rating and set a GBX 185 ($2.65) target price on shares of IQE in a report on Thursday, February 8th. Barclays reiterated an “overweight” rating and issued a GBX 210 ($3.01) price objective on shares of IQE in a report on Friday, January 12th. Finally, Deutsche Bank started coverage on shares of IQE in a report on Friday, January 12th. They issued a “hold” rating and a GBX 140 ($2.00) price objective on the stock. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. IQE presently has a consensus rating of “Buy” and a consensus price target of GBX 181.57 ($2.60).

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Shares of LON:IQE traded down GBX 3.90 ($0.06) during midday trading on Friday, hitting GBX 118.70 ($1.70). 6,609,749 shares of the company’s stock traded hands, compared to its average volume of 8,840,000. IQE has a twelve month low of GBX 45 ($0.64) and a twelve month high of GBX 181.50 ($2.60).

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About IQE

IQE plc is a United Kingdom-based holding company. The Company is engaged in the research, development and provision of engineering consultancy services to the compound semiconductor industry. The Company’s segments include wireless, photonics, Infra Red and CMOS++. The Company is the manufacturer and supplier of Compound Semiconductor wafers or epiwafers using a process called epitaxy.

Analyst Recommendations for IQE (LON:IQE)

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