Investment firm Baird has adjusted its outlook on Methode Electronics (MEI, Financial), decreasing the stock's price target from $9 to $7 while maintaining a Neutral rating. This revision comes as the firm adopts a more cautious approach towards the vehicle technology and mobility sector.
Baird's decision reflects concerns in the industry, despite expectations that first-quarter results for auto suppliers will align with forecasts. However, the perceived balance of risk and reward seems unfavorable, according to analyst insights.
Additionally, the firm anticipates that updates to company guidance may face challenges. These potential difficulties are linked to the expected disturbances following the initial implementation of auto tariffs, which could impact the sector's performance.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 2 analysts, the average target price for Methode Electronics Inc (MEI, Financial) is $11.50 with a high estimate of $14.00 and a low estimate of $9.00. The average target implies an upside of 101.75% from the current price of $5.70. More detailed estimate data can be found on the Methode Electronics Inc (MEI) Forecast page.
Based on the consensus recommendation from 3 brokerage firms, Methode Electronics Inc's (MEI, Financial) average brokerage recommendation is currently 2.3, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for Methode Electronics Inc (MEI, Financial) in one year is $22.52, suggesting a upside of 295.09% from the current price of $5.7. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the Methode Electronics Inc (MEI) Summary page.
