Castings PLC 40.0% potential upside indicated by Canaccord Genuity

Castings PLC with ticker (LON:CGS) now has a potential upside of 40.0% according to Canaccord Genuity.



Canaccord Genuity set a target price of 530 GBX for the company, which when compared to the Castings PLC share price of 318 GBX at opening today (09/05/2022) indicates a potential upside of 40.0%. Trading has ranged between 283 (52 week low) and 420 (52 week high) with an average of 17,424 shares exchanging hands daily. The market capitalisation at the time of writing is £137,713,684.

Castings P.L.C. is a United Kingdom-based iron casting and machining company. The Company caters to both domestic and export markets. The Company’s segments include Foundry operations and Machining. The Company operates two iron foundries, such as Castings P.L.C. (Brownhills, West Midlands) and William Lee Limited (Dronfield, Derbyshire) together with the CNC Speedwell Limited machining operation, which is also based in Brownhills. It produces ductile iron, SG iron, austempered ductile iron (ADI), SiMo and Ni-resist castings up to approximately 45 kilogram in weight. Its three Disamatic molding machines and three horizontal green sand molding machines provide a foundry capacity of approximately 70,000 tons per annum. Its machining operation supports the capacity requirements of the foundry customer base and also expands general machining in alternative materials. The Company’s subsidiaries include William Lee Limited and CNC Speedwell Limited, among others.