Berenberg Bank Forecasts Strong Price Appreciation for discoverIE Group (LON:DSCV) Stock

discoverIE Group (LON:DSCV) had its target price increased by research analysts at Berenberg Bank from GBX 1,050 to GBX 1,100 in a research note issued to investors on Thursday, Digital Look reports. The firm currently has a “buy” rating on the stock. Berenberg Bank’s price target points to a potential upside of 33.01% from the stock’s previous close.

Several other analysts have also recently issued reports on DSCV. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a GBX 870 price target on shares of discoverIE Group in a research report on Tuesday, June 23rd. Peel Hunt reissued a “buy” rating and issued a GBX 1,000 price objective on shares of discoverIE Group in a research note on Friday, July 24th. Six investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of GBX 900.62.

discoverIE Group Stock Performance

LON DSCV opened at GBX 827 on Thursday. The company has a market cap of £794.97 million, a P/E ratio of 28.13 and a beta of 1.29. The company has a debt-to-equity ratio of 72.98, a current ratio of 1.45 and a quick ratio of 0.96. The stock has a 50-day moving average of GBX 809.63 and a two-hundred day moving average of GBX 724.83. discoverIE Group has a 1-year low of GBX 505 and a 1-year high of GBX 917.

discoverIE Group Company Profile

discoverIE Group plc is an international group of businesses that design and manufacture innovative electronic components for industrial use. The Group provides application-specific components to original equipment manufacturers (“OEMs”) internationally, with a focus on key markets driven by structural growth and increasing electronic content, namely renewable energy, medical, transportation, security, and industrial & connectivity.

The Group employs c.4,500 people across 20 countries. Its principal operating units are located in Continental Europe, the UK, China, Sri Lanka, India, Thailand, Mexico and the USA.