Melrose Industries PLC (MRO.L) 28-10-19
Melrose Industries PLC (MRO.L) has continued to rally strongly, setting new recent highs. Will the momentum persist?
- Now trading at 212.1p (at time of writing), momentum has been robust.
- Will it end, or is this trend your friend?
- Is this the opportunity for momentum traders?
- Momentum has been robust, but traders should remember that past performance is not always an indication of the future.
- Technical traders should be mindful of breaking news. It can influence price action. Check our website for updates.
- Shares -2% from 12-month highs; +45% from 12 month lows.
22 Oct: JP Morgan Cazenove reiterates its overweight rating on Melrose (MRO) and reduced the target price to 260p (from 265p).
09 Sep: Citigroup reiterates its buy rating on Melrose (MRO) and increased the target price to 230p (from 220p).
06 Sep: JP Morgan Cazenove reiterates its overweight rating on Melrose (MRO) and increased the target price to 265p (from 250p).
05 Sep: Melrose Industries announced trading ‘in line’ with expectations for 2019. It also reported increased H1 revenue, and smaller losses year on year.
Source: Bloomberg, Reuters, Alpha Terminal, FT, DJ Newswires