Inchcape (INCH) Stock Rating Upgraded by HSBC
Inchcape (LON:INCH) was upgraded by investment analysts at HSBC to a “buy” rating in a note issued to investors on Thursday. The brokerage currently has a GBX 690 ($9.02) target price on the stock, up from their previous target price of GBX 650 ($8.49). HSBC’s price target points to a potential upside of 18.15% from the company’s previous close.
Several other analysts have also recently commented on the company. JPMorgan Chase & Co. lowered their target price on Inchcape from GBX 915 ($11.96) to GBX 823 ($10.75) and set an “overweight” rating on the stock in a research report on Friday, November 9th. Barclays upgraded Inchcape to an “overweight” rating and set a GBX 700 ($9.15) target price on the stock in a research report on Wednesday, October 31st. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of GBX 817 ($10.68).
INCH opened at GBX 584 ($7.63) on Thursday. Inchcape has a 12 month low of GBX 660.50 ($8.63) and a 12 month high of GBX 885 ($11.56).
Inchcape plc operates as an automotive distributor and retailer in the premium and luxury automotive sectors. The company sells and retails new and used cars of various brands. It also provides after sales servicing and parts; and vehicle finance and insurance products and services. The company operates in Asia, Australasia, the United Kingdom, Europe, Africa, South America, and Russia.
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