Conduit (LON:CRE) Given “Buy” Rating at Berenberg Bank

Conduit (LON:CRE)‘s stock had its “buy” rating reaffirmed by stock analysts at Berenberg Bank in a research note issued to investors on Friday, October 9th, MarketBeat Ratings reports. They presently have a GBX 765 target price on the stock. Berenberg Bank’s target price would suggest a potential upside of 68.32% from the company’s current price.

Several other research firms also recently weighed in on CRE. Peel Hunt reissued a “buy” rating and issued a GBX 530 price target on shares of Conduit in a research note on Thursday, October 8th. Jefferies Financial Group reiterated a “buy” rating and issued a GBX 488 price objective on shares of Conduit in a report on Wednesday, September 9th. Finally, Royal Bank Of Canada restated a “sector perform” rating and set a GBX 450 target price on shares of Conduit in a report on Friday, July 31st. Three research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of GBX 558.25.

Conduit Price Performance

CRE stock traded up GBX 4.50 during mid-day trading on Friday, hitting GBX 454.50. 141,980 shares of the stock were exchanged, compared to its average volume of 918,501. The business has a fifty day moving average price of GBX 452.77 and a 200 day moving average price of GBX 446.94. Conduit has a 12 month low of GBX 320 and a 12 month high of GBX 485.50. The stock has a market capitalization of £636.49 million, a price-to-earnings ratio of 3.37 and a beta of 0.58.

Insider Activity at Conduit

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

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).