Castings PLC 40.6% potential upside indicated by Canaccord Genuity

Castings PLC with ticker (LON:CGS) now has a potential upside of 40.6% 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 377 GBX at opening today (23/05/2023) indicates a potential upside of 40.6%. Trading has ranged between 270 (52 week low) and 390 (52 week high) with an average of 50,705 shares exchanging hands daily. The market capitalisation at the time of writing is £162,994,265.

Castings P.L.C. is a United Kingdom-based company, which is engaged in manufacturing iron castings and machining operations. Its segments include Foundry operations and Machining. It 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 45 kilograms in weight. Its four 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 to expands general machining in alternative materials. Its customer sector profile includes commercial vehicles, automotive, and others. It operates in the United Kingdom, Europe, and North and South America.