Berenberg Bank Reaffirms “Buy” Rating for Conduit (LON:CRE)

Conduit (LON:CRE)‘s stock had its “buy” rating reissued by stock analysts at Berenberg Bank in a note issued to investors on Friday, London Stock Exchange reports. They presently have a GBX 765 price objective on the stock. Berenberg Bank’s target price would suggest a potential upside of 76.06% from the stock’s previous close.

A number of other research firms have also weighed in on CRE. Royal Bank Of Canada reissued a “sector perform” rating and set a GBX 450 target price on shares of Conduit in a research report on Friday, July 31st. Peel Hunt reaffirmed a “buy” rating and issued a GBX 530 price target on shares of Conduit in a research report on Thursday. Finally, Jefferies Financial Group reissued a “buy” rating and set a GBX 488 price objective on shares of Conduit in a research report on Wednesday, September 9th. Three equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of GBX 558.25.

Conduit Trading Up 3.5%

LON CRE opened at GBX 434.50 on Friday. Conduit has a 1 year low of GBX 320 and a 1 year high of GBX 485.50. The company has a fifty day simple moving average of GBX 452.80 and a 200 day simple moving average of GBX 445.94. The company has a market cap of £608.48 million, a P/E ratio of 3.22 and a beta of 0.58.

Insiders Place Their Bets

In other news, insider Neil David Eckert sold 43,958 shares of the stock in a transaction on Monday, September 21st. The stock was sold at an average price of GBX 473, for a total transaction of £207,921.34. 1.92% of the stock is owned by corporate insiders.

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).