Princes Group (LON:PRN) Coverage Initiated at Canaccord Genuity Group

Stock analysts at Canaccord Genuity Group initiated coverage on shares of Princes Group (LON:PRN) in a research report issued on Tuesday,London Stock Exchange reports. The brokerage set a “buy” rating and a GBX 625 price target on the stock. Canaccord Genuity Group’s price objective would indicate a potential upside of 67.65% from the company’s previous close.

Princes Group Stock Performance

Princes Group stock traded up GBX 3.28 during mid-day trading on Tuesday, hitting GBX 372.80. 42,056 shares of the stock were exchanged, compared to its average volume of 230,610. Princes Group has a 12 month low of GBX 348.75 and a 12 month high of GBX 498. The firm has a market cap of £912.25 million and a price-to-earnings ratio of 10.08.

Princes Group (LON:PRN) last released its quarterly earnings results on Tuesday, March 31st. The company reported GBX 37 earnings per share (EPS) for the quarter. The firm had revenue of GBX 187.15 billion for the quarter.

Princes Group Company Profile

Princes Group is a long-established British food and drink company that manufactures, markets and distributes a broad range of ambient food and beverage products. The company is known for producing shelf-stable goods including canned and tinned products, tomato-based items, cooking sauces, edible oils and a variety of beverages. It supplies both branded and private-label products to retail, wholesale and foodservice customers.

Operations focus on end-to-end manufacturing and supply chain capabilities, from ingredient sourcing and production to packing and distribution.