JPMorgan Upgrades Mercury Systems to Overweight, Cuts Target to $102
Piper Sandler reiterated its overweight rating and $107 price target before the open on the same day.
Key points
- JPMorgan upgraded Mercury Systems to overweight from neutral, cutting its target to $102 from $110
- Piper Sandler reiterated overweight with a $107 price target
- Shares rose 5.7% Wednesday to close at $88.33; the S&P 500 ETF gained 1.3%
- Before the actions, the median target among 10 covering firms was $106
Two analysts acted on Mercury Systems (Nasdaq: MRCY) on Wednesday, with JPMorgan upgrading the stock to overweight from neutral and cutting its price target to $102 from $110.
Piper Sandler reiterated its overweight rating and $107 price target before the open. JPMorgan's upgrade also came before the open. The $102 target is JPMorgan's own view and was set alongside the upgrade.
Mercury closed at $83.58 on Tuesday, Nov. 10, its last close before the first action, and had risen 9.0% over the 20 sessions to that close. On Wednesday the shares rose 5.7% to close at $88.33, while the S&P 500 ETF gained 1.3% that session.
Before Wednesday, 10 firms had rated the stock in the past year: seven positive, two neutral and one negative. Their median price target was $106, with targets ranging from $68 to $130.
Mercury reported revenue of $983.6 million for the fiscal year ended July 3, up 8% from a year earlier. For the quarter ended Oct. 2, revenue was $253.2 million, up 12%. The company had $109.7 million in cash and equivalents as of Oct. 2, and a market capitalization of about $5.09 billion before the actions.
Mercury filed a quarterly report on Form 10-Q with the SEC on Tuesday, Nov. 10, the day before the actions. The filing is available on the SEC website.
Written with AI from analyst rating changes, SEC filings and market data, and checked against those sources before publishing. Our editorial standards.
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More on Mercury Systems
MRCY page →Filings, figures and price history are on the Mercury Systems page.