Conduit’s (CRE) Buy Rating Reiterated at Berenberg Bank

Berenberg Bank reiterated their buy rating on shares of Conduit (LON:CRE) in a report published on Friday morning, MarketBeat reports. They currently have a GBX 765 target price on the stock.

Several other research analysts have also issued reports on the company. Jefferies Financial Group reiterated a “buy” rating and issued a GBX 488 price target on shares of Conduit in a report on Wednesday, September 9th. Royal Bank Of Canada reissued a “sector perform” rating and issued a GBX 450 price objective on shares of Conduit in a research note on Friday, July 31st. Finally, Peel Hunt restated a “buy” rating and set a GBX 530 price objective on shares of Conduit in a report on Thursday. Three equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, Conduit currently has an average rating of “Moderate Buy” and a consensus price target of GBX 558.25.

Conduit Price Performance

Shares of CRE stock opened at GBX 433 on Friday. The business’s fifty day moving average price is GBX 452.79 and its 200 day moving average price is GBX 446.11. The firm has a market capitalization of £606.38 million, a PE ratio of 3.21 and a beta of 0.58. Conduit has a 1-year low of GBX 320 and a 1-year high of GBX 485.50.

Insider Buying and Selling

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

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).