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

Conduit (LON:CRE)‘s stock had its “buy” rating reaffirmed by analysts at Berenberg Bank in a report issued on Friday, Marketbeat.com reports. They presently have a GBX 765 target price on the stock. Berenberg Bank’s target price would indicate a potential upside of 76.67% from the company’s current price.

A number of other equities analysts have also commented on CRE. Peel Hunt reaffirmed a “buy” rating and issued a GBX 530 price objective on shares of Conduit in a research note on Thursday. Jefferies Financial Group reissued a “buy” rating and set a GBX 488 target price on shares of Conduit in a research note on Wednesday, September 9th. Finally, Royal Bank Of Canada reissued a “sector perform” rating and set a GBX 450 target price 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 given a Hold rating to the company. According to MarketBeat.com, Conduit presently has an average rating of “Moderate Buy” and a consensus price target of GBX 558.25.

Conduit Price Performance

CRE stock opened at GBX 433 on Friday. Conduit has a 52-week low of GBX 320 and a 52-week high of GBX 485.50. The company’s 50 day simple moving average is GBX 452.79 and its 200-day simple moving average is GBX 446.11. The firm has a market capitalization of £606.38 million, a P/E ratio of 3.21 and a beta of 0.58.

Insider Buying and Selling

In other Conduit news, insider Neil David Eckert sold 43,958 shares of Conduit stock in a transaction dated Monday, September 21st. The stock was sold at an average price of GBX 473, for a total transaction of £207,921.34. Insiders own 1.92% of the company’s stock.

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).