Melrose Industries Stock Gains Royal Bank Of Canada's Reaffirmation

Melrose Industries (LON:MRO) has had its stock reconfirmed as an 'outperform' by analysts at Royal Bank Of Canada. The investment bank's price target for the company is GBX 800, representing a potential upside of 70.68% from the previous close.

Shares of MRO opened at GBX 468.70 on Friday. The company has a market cap of £5.84 billion and a P/E ratio of 16.16. Royal Bank Of Canada also issued a price objective for Melrose Industries, which is higher than its current share price.

Insiders have been buying shares of the company in recent months. In June, insider Guy Hachey purchased 18,000 shares at an average price of GBX 449 per share, and Chris Grigg bought 20,000 shares at an average price of GBX 472 per share.