Inchcape (LON:INCH) had its price target reduced by JPMorgan Chase & Co. from GBX 915 ($11.96) to GBX 823 ($10.75) in a research note published on Friday. JPMorgan Chase & Co. currently has an overweight rating on the stock.
Several other brokerages have also weighed in on INCH. Barclays raised Inchcape to an overweight rating and set a GBX 700 ($9.15) price objective for the company in a report on Wednesday, October 31st. HSBC lowered Inchcape to a hold rating and decreased their price objective for the stock from GBX 860 ($11.24) to GBX 650 ($8.49) in a report on Wednesday, October 17th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The company currently has an average rating of Buy and an average price target of GBX 812 ($10.61).
INCH traded up GBX 16.50 ($0.22) during trading hours on Friday, hitting GBX 585 ($7.64). The stock had a trading volume of 2,114,965 shares, compared to its average volume of 1,390,000. Inchcape has a 1 year low of GBX 660.50 ($8.63) and a 1 year high of GBX 885 ($11.56).
Inchcape plc operates as an automotive distributor and retailer in the premium and luxury automotive sectors. The company sells and retails new and used cars of various brands. It also provides after sales servicing and parts; and vehicle finance and insurance products and services. The company operates in Asia, Australasia, the United Kingdom, Europe, Africa, South America, and Russia.
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