Deutsche Bank Cuts The Sage Group (SGE) Price Target to GBX 505
The Sage Group (LON:SGE) had its target price cut by equities researchers at Deutsche Bank from GBX 540 ($7.06) to GBX 505 ($6.60) in a research note issued to investors on Thursday. The firm presently has a “hold” rating on the stock. Deutsche Bank’s price objective would indicate a potential downside of 7.41% from the company’s previous close.
Several other equities analysts have also commented on the stock. Barclays lowered shares of The Sage Group to an “underweight” rating and decreased their price objective for the stock from GBX 675 ($8.82) to GBX 495 ($6.47) in a report on Tuesday, October 9th. Morgan Stanley decreased their price objective on shares of The Sage Group from GBX 610 ($7.97) to GBX 570 ($7.45) and set an “underweight” rating on the stock in a report on Wednesday, September 12th. Citigroup restated a “buy” rating and issued a GBX 680 ($8.89) price objective on shares of The Sage Group in a report on Monday, September 3rd. UBS Group restated a “neutral” rating and issued a GBX 700 ($9.15) price objective on shares of The Sage Group in a report on Tuesday, September 25th. Finally, Canaccord Genuity upgraded shares of The Sage Group to a “hold” rating and set a GBX 540 ($7.06) price objective on the stock in a report on Tuesday, October 30th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of GBX 647.15 ($8.46).
LON:SGE opened at GBX 545.40 ($7.13) on Thursday. The Sage Group has a 1-year low of GBX 613 ($8.01) and a 1-year high of GBX 825.20 ($10.78).
About The Sage Group
The Sage Group plc provides business management software and services for small and medium sized companies. It offers software and services for accounting and payroll, enterprise resource planning, customer relationship management, and payments. The company serves business owners, bookkeepers, and finance directors.
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