Castings PLC 41.5% potential upside indicated by Canaccord Genuity

Castings PLC with ticker (LON:CGS) now has a potential upside of 41.5% 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 375 GBX at opening today (09/05/2023) indicates a potential upside of 41.5%. Trading has ranged between 270 (52 week low) and 380 (52 week high) with an average of 27,464 shares exchanging hands daily. The market capitalisation at the time of writing is £162,698,098.

Castings P.L.C. is a United Kingdom-based iron casting and machining company, which supplies both the domestic and export markets. Its segments include Foundry operations and Machining operations. 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 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 expands general machining in alternative materials. Its customer sector profile includes commercial vehicle, automotive, and others. It operates in United Kingdom, Europe, and North and South America.