Credit Suisse Group AG Initiates Coverage on RBS (RBS)
Analysts at Credit Suisse Group AG started coverage on shares of RBS (LON:RBS) in a research report issued on Tuesday. The firm set an “underperform” rating and a GBX 180 ($2.23) price target on the financial services provider’s stock. Credit Suisse Group AG’s price objective would suggest a potential downside of 7.36% from the stock’s previous close.
A number of other analysts also recently weighed in on the company. Macquarie restated a “neutral” rating and issued a GBX 190 ($2.36) price objective on shares of RBS in a report on Thursday, November 17th. BNP Paribas downgraded RBS to an “underperform” rating and set a GBX 195 ($2.42) price objective for the company. in a report on Friday, November 18th. Investec downgraded RBS to a “sell” rating and decreased their price objective for the company from GBX 205 ($2.54) to GBX 200 ($2.48) in a report on Monday, September 12th. Deutsche Bank AG restated a “sell” rating and issued a GBX 172 ($2.13) price objective on shares of RBS in a report on Thursday, November 24th. Finally, Goldman Sachs Group Inc. increased their price objective on RBS from GBX 225 ($2.79) to GBX 240 ($2.98) and gave the company a “buy” rating in a report on Friday, November 25th. Eleven equities research analysts have rated the stock with a sell rating, eight have given a hold rating and four have given a buy rating to the company’s stock. RBS presently has a consensus rating of “Hold” and a consensus target price of GBX 220.76 ($2.74).
Shares of RBS (LON:RBS) opened at 195.10 on Tuesday. The company’s market capitalization is GBX 22.93 billion. The stock has a 50 day moving average price of GBX 192.16 and a 200-day moving average price of GBX 197.82. RBS has a one year low of GBX 148.40 and a one year high of GBX 315.70.
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In other RBS news, insider Ross McEwan acquired 141,363 shares of RBS stock in a transaction that occurred on Tuesday, November 8th. The stock was acquired at an average cost of GBX 187 ($2.32) per share, for a total transaction of £264,348.81 ($327,935.50).
The Royal Bank of Scotland Group plc (RBS) is a banking and financial services company. The Company provides financial products and services to personal, commercial, corporate and institutional customers, through its subsidiaries, The Royal Bank of Scotland and National Westminster Bank Plc (NatWest), as well as through other brands, including Ulster Bank and Coutts.
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