HSBC Reaffirms “Reduce” Rating for RBS (RBS)
RBS (LON:RBS)‘s stock had its “reduce” rating reaffirmed by investment analysts at HSBC in a note issued to investors on Thursday. They presently have a GBX 160 ($1.98) price objective on the financial services provider’s stock. HSBC’s target price suggests a potential downside of 17.65% from the company’s previous close.
Several other research firms also recently weighed in on RBS. Macquarie reissued a “neutral” rating and set a GBX 190 ($2.36) price target on shares of RBS in a research report on Thursday, November 17th. BNP Paribas downgraded RBS to an “underperform” rating and set a GBX 195 ($2.42) price target for the company. in a research report on Friday, November 18th. Investec downgraded RBS to a “sell” rating and dropped their price target for the stock from GBX 205 ($2.54) to GBX 200 ($2.48) in a research report on Monday, September 12th. Deutsche Bank AG reissued a “sell” rating and set a GBX 172 ($2.13) price target on shares of RBS in a research report on Thursday, November 24th. Finally, Goldman Sachs Group Inc. raised their price target on RBS from GBX 225 ($2.79) to GBX 240 ($2.98) and gave the stock a “buy” rating in a research report on Friday, November 25th. Eleven analysts have rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of GBX 220.76 ($2.74).
Shares of RBS (LON:RBS) opened at 194.30 on Thursday. RBS has a one year low of GBX 148.40 and a one year high of GBX 315.70. The stock’s market cap is GBX 22.83 billion. The firm’s 50-day moving average price is GBX 192.16 and its 200 day moving average price is GBX 197.82.
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In related news, insider Ross McEwan bought 141,363 shares of the firm’s stock in a transaction on Tuesday, November 8th. The stock was bought at an average cost of GBX 187 ($2.32) per share, for a total transaction of £264,348.81 ($327,935.50).
RBS Company Profile
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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