Conduit (LON:CRE) Earns “Buy” Rating from Berenberg Bank

Conduit (LON:CRE)‘s stock had its “buy” rating reaffirmed by analysts at Berenberg Bank in a report issued on Friday,London Stock Exchange reports. They currently have a GBX 782 price target on the stock. Berenberg Bank’s price objective points to a potential upside of 77.93% from the company’s current price.

Separately, Royal Bank Of Canada raised their target price on Conduit from GBX 390 to GBX 450 and gave the stock a “sector perform” rating in a research report on Friday, May 15th. Three 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.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of GBX 536.50.

Conduit Price Performance

Shares of CRE opened at GBX 439.50 on Friday. The firm has a fifty day simple moving average of GBX 452.03 and a two-hundred day simple moving average of GBX 421.94. The firm has a market cap of £650.98 million, a PE ratio of 5.94 and a beta of 0.59. The company has a current ratio of 696.25, a quick ratio of 1.19 and a debt-to-equity ratio of 0.07. Conduit has a 1-year low of GBX 271 and a 1-year high of GBX 484.

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).