Micro Focus International (NYSE:MFGP) Upgraded by Jefferies Financial Group to “Buy”

Jefferies Financial Group upgraded shares of Micro Focus International (NYSE:MFGP) from a hold rating to a buy rating in a report issued on Tuesday, The Fly reports. Jefferies Financial Group also issued estimates for Micro Focus International’s FY2021 earnings at $1.32 EPS, FY2022 earnings at $1.14 EPS and FY2023 earnings at $1.17 EPS.

Several other brokerages have also weighed in on MFGP. Zacks Investment Research raised Micro Focus International from a strong sell rating to a hold rating in a report on Wednesday, January 5th. Investec upgraded Micro Focus International from a sell rating to a hold rating in a research report on Thursday, November 18th. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of Hold and a consensus price target of $7.75.

Shares of NYSE:MFGP opened at $5.98 on Tuesday. The stock’s fifty day simple moving average is $5.21 and its two-hundred day simple moving average is $5.43. Micro Focus International has a 1-year low of $4.32 and a 1-year high of $8.19.

A number of large investors have recently modified their holdings of the business. Morgan Stanley boosted its stake in Micro Focus International by 77.4% in the 1st quarter. Morgan Stanley now owns 52,657 shares of the company’s stock worth $405,000 after purchasing an additional 22,970 shares during the period. Cresset Asset Management LLC increased its stake in Micro Focus International by 42.3% in the second quarter. Cresset Asset Management LLC now owns 16,456 shares of the company’s stock worth $124,000 after purchasing an additional 4,892 shares during the period. Deutsche Bank AG grew its position in shares of Micro Focus International by 27.1% during the 2nd quarter. Deutsche Bank AG now owns 35,004 shares of the company’s stock worth $263,000 after buying an additional 7,474 shares in the last quarter. Campbell & CO Investment Adviser LLC bought a new position in shares of Micro Focus International during the 2nd quarter worth $113,000. Finally, Bank of Montreal Can grew its position in shares of Micro Focus International by 18,752.0% during the 2nd quarter. Bank of Montreal Can now owns 766,335 shares of the company’s stock worth $5,709,000 after buying an additional 762,270 shares in the last quarter. 13.33% of the stock is owned by institutional investors and hedge funds.

Micro Focus International Company Profile

Micro Focus International Plc engages in the management of mature infrastructure software assets to organizations leverage value from their investments in IT infrastructure and business applications. It operates through the following segments: Micro Focus Product Portfolio and SUSE Product Portfolio.

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