In a report issued on November 14, Michael Baudendistel from Stifel Nicolaus reiterated a Buy rating on Meritor Inc (MTOR), with a price target of $24. The company’s shares closed on Friday at $16.99, close to its 52-week low of $15.01.
According to TipRanks.com, Baudendistel is a 1-star analyst with an average return of -2.0% and a 49.6% success rate. Baudendistel covers the Industrial Goods sector, focusing on stocks such as Allison Transmission Holdings Inc, Wabash National Corp, and Freightcar America.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Meritor Inc with a $21.67 average price target, which is a 27.5% upside from current levels. In a report issued on November 15, RBC Capital also maintained a Buy rating on the stock with a $20 price target.
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Based on Meritor Inc’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $1.08 billion and net profit of $32 million. In comparison, last year the company earned revenue of $922 million and had a net profit of $239 million.
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Meritor, Inc. engages in the design, production, and trade of integrated systems, modules, and components to original equipment manufacturers. It operates through the Commercial Truck and Industrial, and Aftermarket and Trailer segments.
