Chemring Group (CHG) Coverage Initiated at Berenberg Bank

Investment analysts at Berenberg Bank initiated coverage on shares of Chemring Group (LON:CHG) in a report issued on Wednesday. The brokerage set a “buy” rating and a GBX 211 ($2.86) price target on the stock. Berenberg Bank’s price objective indicates a potential upside of 15.93% from the stock’s current price.

Other equities analysts have also issued research reports about the company. Peel Hunt initiated coverage on Chemring Group in a research note on Tuesday, October 31st. They issued an “add” rating and a GBX 185 ($2.51) price objective for the company. Liberum Capital reaffirmed a “buy” rating and issued a GBX 225 ($3.05) price objective on shares of Chemring Group in a research note on Tuesday, November 14th. Finally, JPMorgan Chase & Co. dropped their price objective on Chemring Group from GBX 210 ($2.85) to GBX 205 ($2.78) and set a “neutral” rating for the company in a research note on Friday, January 5th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of GBX 207.43 ($2.81).

Chemring Group (LON:CHG) remained flat at $GBX 182 ($2.47) during midday trading on Wednesday. The stock had a trading volume of 130,959 shares, compared to its average volume of 158,275. The stock has a market cap of $508.51 and a P/E ratio of 3,640.00. Chemring Group has a fifty-two week low of GBX 162 ($2.20) and a fifty-two week high of GBX 208 ($2.82).

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