Micro Focus (LON:MCRO) Lifted to “Speculative Buy” at Canaccord Genuity

Micro Focus (LON:MCRO) was upgraded by analysts at Canaccord Genuity to a “speculative buy” rating in a research report issued on Tuesday, March 20th. The firm currently has a GBX 1,380 ($19.51) price target on the stock, down from their previous price target of GBX 2,800 ($39.58). Canaccord Genuity’s target price suggests a potential upside of 9.65% from the stock’s previous close.

MCRO has been the topic of a number of other reports. Citigroup restated a “neutral” rating and issued a GBX 2,200 ($31.10) price target on shares of Micro Focus in a research note on Tuesday, March 20th. Investec upgraded Micro Focus to a “hold” rating and cut their price target for the company from GBX 1,900 ($26.86) to GBX 1,000 ($14.13) in a research note on Tuesday, March 20th. Barclays restated an “overweight” rating and issued a GBX 2,600 ($36.75) price target on shares of Micro Focus in a research note on Wednesday, December 20th. Numis Securities restated a “buy” rating and issued a GBX 2,800 ($39.58) price target on shares of Micro Focus in a research note on Friday, January 5th. Finally, Credit Suisse Group restated an “underperform” rating and issued a GBX 1,942 ($27.45) price target on shares of Micro Focus in a research note on Monday, November 20th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the company. Micro Focus currently has an average rating of “Hold” and an average price target of GBX 1,445 ($20.42).

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LON:MCRO traded up GBX 88.50 ($1.25) during midday trading on Tuesday, reaching GBX 1,258.50 ($17.79). The company had a trading volume of 6,728,523 shares, compared to its average volume of 1,560,000. Micro Focus has a 12-month low of GBX 26.78 ($0.38) and a 12-month high of GBX 2,970.50 ($41.99).

In related news, insider Kevin Loosemore purchased 20,156 shares of the company’s stock in a transaction that occurred on Wednesday, March 21st. The shares were purchased at an average price of GBX 1,006 ($14.22) per share, for a total transaction of £202,769.36 ($286,599.80). Also, insider Darren Roos purchased 5,291 shares of the company’s stock in a transaction that occurred on Friday, March 23rd. The stock was bought at an average price of GBX 940 ($13.29) per share, for a total transaction of £49,735.40 ($70,297.39).

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Micro Focus Company Profile

Micro Focus International plc, an infrastructure software company, develops, sells, and supports software products and solutions to federal, airlines, and healthcare industries in the United Kingdom, the United States, Germany, France, Japan, and internationally. The company operates through Micro Focus and SUSE segments.

Analyst Recommendations for Micro Focus (LON:MCRO)

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