Majestic Wine PLC (WINE) Price Target Cut to GBX 450

Majestic Wine PLC (LON:WINE) had its price target dropped by analysts at Investec from GBX 510 ($6.66) to GBX 450 ($5.87) in a note issued to investors on Wednesday. The brokerage presently has a “buy” rating on the stock. Investec’s price target would suggest a potential upside of 34.33% from the stock’s previous close.

Other equities analysts have also recently issued research reports about the stock. Peel Hunt lowered their price objective on shares of Majestic Wine PLC from GBX 540 ($7.05) to GBX 400 ($5.22) and set a “buy” rating for the company in a research report on Wednesday. Liberum Capital reissued a “buy” rating and issued a GBX 505 ($6.59) price target (down previously from GBX 525 ($6.85)) on shares of Majestic Wine PLC in a research report on Tuesday, July 5th.

Shares of Majestic Wine PLC (LON:WINE) opened at 335.00 on Wednesday. The stock’s 50 day moving average is GBX 415.28 and its 200-day moving average is GBX 421.77. Majestic Wine PLC has a one year low of GBX 273.25 and a one year high of GBX 485.00. The stock’s market capitalization is GBX 237.02 million.

About Majestic Wine PLC

Majestic Wine plc is a wine retailer. The Company acts as a holding company for its subsidiaries. The Company is engaged in the retailing of wines, beers and spirits. The Company operates through four segments: Retail, Commercial, Naked Wines and Lay & Wheeler. The Retail segment is a customer based wine retailer, selling wine, beer and spirits from stores across the United Kingdom, and online, and also incorporates the Company’s French business.

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