JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Hiscox (LON:HSX) Stock

Hiscox (LON:HSX) had its price objective lifted by analysts at JPMorgan Chase & Co. from GBX 1,800 to GBX 2,050 in a research note issued to investors on Friday,London Stock Exchange reports. The firm presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective indicates a potential upside of 9.74% from the stock’s current price.

A number of other equities research analysts also recently weighed in on the company. Berenberg Bank boosted their target price on Hiscox from GBX 1,760 to GBX 1,900 and gave the stock a “buy” rating in a research report on Friday, May 8th. Royal Bank Of Canada reiterated an “outperform” rating and issued a GBX 1,850 price target on shares of Hiscox in a report on Wednesday, June 24th. Jefferies Financial Group reiterated an “underperform” rating and issued a GBX 1,148 price objective on shares of Hiscox in a research report on Thursday, May 7th. Finally, Peel Hunt restated an “add” rating and set a GBX 1,960 target price on shares of Hiscox in a research report on Thursday, May 28th. Five investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of GBX 1,770.17.

Hiscox Stock Performance

LON:HSX opened at GBX 1,868 on Friday. The stock’s fifty day moving average price is GBX 1,762.22 and its two-hundred day moving average price is GBX 1,588.26. Hiscox has a 52-week low of GBX 1,224.83 and a 52-week high of GBX 1,966.44. The company has a market cap of £5.99 billion, a price-to-earnings ratio of 10.67, a P/E/G ratio of -2.30 and a beta of 0.40.

Hiscox Company Profile

Hiscox is a global, specialty insurer, listed on the London Stock Exchange and headquartered in Bermuda. We have grown from
our roots as a niche Lloyd’s of London underwriter into a diversified international insurance group operating across direct?to?consumer, broker and partner?distributed retail insurance; large and complex commercial insurance; reinsurance and insurance?linked strategies.

We currently employ over 3,000 people worldwide across 13 countries and 31 offices. We have a distinctive brand, energised and ambitious teams, a strong balance sheet, and plenty of room to grow in each of our chosen markets and lines of business.