Majestic Wine PLC (LON:WINEW) was downgraded by equities researchers at Peel Hunt to a "hold" rating in a research note issued on Thursday, StockTargetPrices.com reports. They presently have a GBX 300 ($3.75) price target on the stock, down from their previous price target of GBX 440 ($5.50). Peel Hunt's price target suggests a potential downside of 28.66% from the company's previous close.
A number of other research analysts have also recently commented on the company. Investec reduced their price objective on Majestic Wine PLC from GBX 510 ($6.37) to GBX 450 ($5.62) and set a "buy" rating on the stock in a research note on Wednesday, September 21st. Liberum Capital reduced their price objective on Majestic Wine PLC from GBX 505 ($6.31) to GBX 415 ($5.18) and set a "buy" rating on the stock in a research note on Wednesday, September 21st. Finally, Canaccord Genuity reduced their price objective on Majestic Wine PLC from GBX 350 ($4.37) to GBX 290 ($3.62) and set a "sell" rating on the stock in a research note on Thursday, September 29th.
Shares of Majestic Wine PLC opened at 420.50 on Thursday, MarketBeat.com reports. Majestic Wine PLC has a 52-week low of GBX 273.25 and a 52-week high of GBX 485.00. The stock has a 50 day moving average price of GBX 368.83 and a 200-day moving average price of GBX 362.48.
About Majestic Wine PLC
Majestic Wine PLC is a United Kingdom-based holding company, which is engaged in retailing of wines, beers and spirits. The Company's segments include Majestic Wine Warehouses, Lay & Wheeler and Majestic Wine Calais. Majestic Wine Warehouses is a wine specialist in the United Kingdom selling wine by the mixed case.