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

Conduit (LON:CRE) had its target price dropped by Berenberg Bank from GBX 782 to GBX 765 in a research report issued to clients and investors on Wednesday,Digital Look reports. The firm presently has a “buy” rating on the stock. Berenberg Bank’s price objective indicates a potential upside of 67.95% from the stock’s current price.

Separately, Royal Bank Of Canada increased 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 assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of GBX 532.25.

Conduit Price Performance

CRE stock opened at GBX 455.50 on Wednesday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.19 and a current ratio of 696.25. The company’s fifty day moving average price is GBX 446.13 and its 200-day moving average price is GBX 428.45. Conduit has a one year low of GBX 271 and a one year high of GBX 484. The company has a market capitalization of £671.83 million, a PE ratio of 6.16 and a beta of 0.59.

About Conduit

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).