BAE Systems (BA) Trading Down 0% on Analyst Downgrade
BAE Systems plc (LON:BA)’s share price dropped 0% on Friday after JPMorgan Chase & Co. lowered their price target on the stock from GBX 595 to GBX 555. JPMorgan Chase & Co. currently has a neutral rating on the stock. BAE Systems traded as low as GBX 566.80 ($7.58) and last traded at GBX 572 ($7.65). Approximately 6,734,870 shares were traded during trading, a decline of 5% from the average daily volume of 7,110,000 shares. The stock had previously closed at GBX 572 ($7.65).
Several other brokerages have also weighed in on BA. Berenberg Bank lowered BAE Systems to a “hold” rating and reduced their price objective for the company from GBX 700 ($9.36) to GBX 600 ($8.02) in a report on Tuesday, October 3rd. Deutsche Bank reaffirmed a “buy” rating and issued a GBX 670 ($8.96) price target on shares of BAE Systems in a report on Wednesday, October 11th. Citigroup reaffirmed a “buy” rating and issued a GBX 720 ($9.63) price target on shares of BAE Systems in a report on Wednesday, October 11th. Jefferies Group reaffirmed a “hold” rating and issued a GBX 615 ($8.22) price target on shares of BAE Systems in a report on Monday, November 13th. Finally, Goldman Sachs Group reaffirmed a “buy” rating on shares of BAE Systems in a report on Monday, December 11th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of GBX 647.08 ($8.65).
The firm has a market capitalization of $18,220.00 and a PE ratio of 1,733.33.
About BAE Systems
BAE Systems plc is a defense, aerospace and security company. The Company operates through five segments. The Electronic Systems segment consists of the Company’s United States and United Kingdom-based electronics activities. The Cyber & Intelligence segment consists of its United States-based Intelligence & Security business and United Kingdom-based Applied Intelligence business, and covers the Company’s cyber, secure government, and commercial and financial security activities.
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