Berenberg Bank Reiterates “Buy” Rating for Royal Bank of Scotland Group plc (RBS)
Royal Bank of Scotland Group plc (LON:RBS)‘s stock had its “buy” rating restated by research analysts at Berenberg Bank in a research note issued to investors on Wednesday. They currently have a GBX 275 ($3.58) price objective on the financial services provider’s stock. Berenberg Bank’s price target would suggest a potential upside of 3.93% from the company’s previous close.
Several other research analysts have also commented on RBS. J P Morgan Chase & Co upgraded Royal Bank of Scotland Group plc from an “underweight” rating to a “neutral” rating and raised their price target for the stock from GBX 210 ($2.73) to GBX 230 ($3.00) in a research report on Wednesday, April 19th. Deutsche Bank AG lowered their price target on Royal Bank of Scotland Group plc from GBX 252 ($3.28) to GBX 240 ($3.13) and set a “hold” rating for the company in a research report on Wednesday, April 19th. Credit Suisse Group restated an “underperform” rating and set a GBX 235 ($3.06) price target on shares of Royal Bank of Scotland Group plc in a research report on Friday, April 21st. Shore Capital restated a “hold” rating on shares of Royal Bank of Scotland Group plc in a research report on Friday, April 28th. Finally, Barclays PLC raised their price target on Royal Bank of Scotland Group plc from GBX 250 ($3.26) to GBX 260 ($3.39) and gave the stock an “equal weight” rating in a research report on Tuesday, May 2nd. Six equities research analysts have rated the stock with a sell rating, ten have given a hold rating and three have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of GBX 244.74 ($3.19).
Shares of Royal Bank of Scotland Group plc (LON RBS) opened at 259.10 on Wednesday. The firm’s 50-day moving average price is GBX 252.48 and its 200-day moving average price is GBX 246.99. Royal Bank of Scotland Group plc has a 12 month low of GBX 168.20 and a 12 month high of GBX 271.00. The company’s market capitalization is GBX 30.61 billion.
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In other news, insider Ross McEwan acquired 187,674 shares of the company’s stock in a transaction on Friday, May 12th. The shares were bought at an average price of GBX 266 ($3.46) per share, with a total value of £499,212.84 ($650,101.37).
Royal Bank of Scotland Group plc Company Profile
The Royal Bank of Scotland Group plc (RBS) is a banking and financial services company. The Company provides a range of products and services to personal, commercial, corporate and institutional customers, through its subsidiaries, The Royal Bank of Scotland plc and National Westminster Bank Plc (NatWest), as well as through other brands, including Ulster Bank and Coutts.
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