Berenberg Bank Lowers Conduit (LON:CRE) Price Target to GBX 765

Conduit (LON:CRE) had its target price reduced by analysts at Berenberg Bank from GBX 782 to GBX 765 in a report released on Wednesday,Digital Look reports. The brokerage presently has a “buy” rating on the stock. Berenberg Bank’s price objective points to a potential upside of 67.95% from the company’s current price.

Separately, Royal Bank Of Canada lifted their price objective on shares of Conduit from GBX 390 to GBX 450 and gave the company a “sector perform” rating in a report on Friday, May 15th. Three equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of GBX 532.25.

Conduit Price Performance

Shares of CRE opened at GBX 455.50 on Wednesday. The business’s fifty day moving average is GBX 446.13 and its 200 day moving average is GBX 428.45. Conduit has a 12-month low of GBX 271 and a 12-month high of GBX 484. The company has a quick ratio of 1.19, a current ratio of 696.25 and a debt-to-equity ratio of 0.07. The stock has a market cap of £671.83 million, a P/E ratio of 6.16 and a beta of 0.59.

Conduit Company Profile

Conduit Re is a Bermuda-based multi-line reinsurance business with global reach. Conduit Reinsurance Limited is licensed by the Bermuda Monetary Authority as a Class 4 insurer. A.M. Best has assigned a Financial Strength Rating of A- (Excellent) and a Long-Term Issuer Credit Rating of a- (Excellent) to Conduit Reinsurance Limited. The outlook assigned to these ratings is stable.

Conduit Holdings Limited is the ultimate parent of Conduit Reinsurance Limited and is listed on the London Stock Exchange (ticker: CRE).