John Wood Group (WG) Upgraded to “Buy” by HSBC

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John Wood Group (LON:WG) was upgraded by research analysts at HSBC to a “buy” rating in a report issued on Thursday. The brokerage presently has a GBX 725 ($9.35) price target on the stock, up from their prior price target of GBX 675 ($8.71). HSBC’s price target indicates a potential upside of 6.40% from the stock’s previous close.

Several other equities analysts have also recently weighed in on WG. JPMorgan Chase & Co. reiterated an “overweight” rating on shares of John Wood Group in a report on Monday, May 14th. Morgan Stanley cut John Wood Group to an “underweight” rating and boosted their target price for the company from GBX 700 ($9.03) to GBX 800 ($10.32) in a research note on Wednesday, May 16th. Credit Suisse Group restated an “outperform” rating and issued a GBX 750 ($9.67) target price on shares of John Wood Group in a research note on Thursday, May 17th. Citigroup restated a “buy” rating and issued a GBX 850 ($10.96) target price on shares of John Wood Group in a research note on Monday, June 25th. Finally, Barclays restated an “underweight” rating and issued a GBX 690 ($8.90) target price on shares of John Wood Group in a research note on Monday, August 20th. Three investment analysts have rated the stock with a sell rating, two have given a hold rating and six have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of GBX 755 ($9.74).

LON:WG opened at GBX 681.40 ($8.79) on Thursday. John Wood Group has a fifty-two week low of GBX 553 ($7.13) and a fifty-two week high of GBX 830 ($10.71).

In related news, insider Jann M. Brown purchased 1,271 shares of the stock in a transaction on Thursday, June 28th. The shares were purchased at an average price of GBX 649 ($8.37) per share, with a total value of £8,248.79 ($10,640.85). Also, insider Robin Watson purchased 899 shares of the stock in a transaction on Thursday, July 26th. The shares were bought at an average cost of GBX 639 ($8.24) per share, for a total transaction of £5,744.61 ($7,410.49). Insiders acquired a total of 3,103 shares of company stock worth $1,973,135 in the last 90 days.

John Wood Group Company Profile

John Wood Group PLC, together with its subsidiaries, provides project, engineering, and technical services to the energy and industrial markets in the United Kingdom, the United States, and internationally. It operates in five segments: Asset Solutions Europe, Africa, Asia, Australia; Assets Solutions Americas; Specialist Technical Solutions; Environment and Infrastructure Solutions; and Investment Services.

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Analyst Recommendations for John Wood Group (LON:WG)

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