Conduit (LON:CRE) Hits New 1-Year High – What’s Next?

Conduit Holdings Limited (LON:CRE)’s share price reached a new 52-week high on Friday . The company traded as high as GBX 485.50 and last traded at GBX 484.50, with a volume of 1049767 shares trading hands. The stock had previously closed at GBX 480.50.

Analysts Set New Price Targets

Several equities research analysts have commented on CRE shares. Jefferies Financial Group reissued a “buy” rating and set a GBX 488 price target on shares of Conduit in a research report on Wednesday, September 9th. Berenberg Bank restated a “buy” rating and issued a GBX 765 price objective on shares of Conduit in a report on Monday, September 7th. Finally, Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a GBX 450 target price on shares of Conduit in a research report on Friday, July 31st. Three equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of GBX 560.75.

Conduit Price Performance

The firm’s 50 day moving average is GBX 447.12 and its two-hundred day moving average is GBX 442.94. The firm has a market capitalization of £678.50 million, a P/E ratio of 3.59 and a beta of 0.58.

Conduit Company Profile

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).