Berenberg Bank Reaffirms “Buy” Rating for Conduit (LON:CRE)

Conduit (LON:CRE)‘s stock had its “buy” rating reaffirmed by research analysts at Berenberg Bank in a research report issued to clients and investors on Monday, Digital Look reports. They currently have a GBX 765 target price on the stock. Berenberg Bank’s target price indicates a potential upside of 67.95% from the stock’s previous close.

A number of other analysts have also recently commented on the company. Jefferies Financial Group restated a “buy” rating and issued a GBX 427 price objective on shares of Conduit in a research report on Thursday, July 30th. Royal Bank Of Canada reissued a “sector perform” rating and issued a GBX 450 price target on shares of Conduit in a research note on Friday, July 31st. Three equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of GBX 545.50.

Conduit Trading Down 1.0%

LON CRE opened at GBX 455.50 on Monday. The stock has a market capitalization of £637.89 million, a price-to-earnings ratio of 3.37 and a beta of 0.58. The stock has a 50-day moving average of GBX 445.22 and a 200 day moving average of GBX 440.65. Conduit has a twelve month low of GBX 271 and a twelve month 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).