Societe Generale lowered shares of Royal Bank of Scotland Group plc (LON: RBS) from a buy rating to a hold rating in a report released on Friday. Societe Generale currently has $4.93 (328 GBX) target price on the stock, down from their previous target price of $5.00 (333 GBX).
“RBS has shown remarkable consistency in shrinking the high risk/low return assets in its Non-Core division (down from £258bn at the end of 2008 to £57bn), but the improving balance sheet shifts the focus to RBS Core, the ongoing business. It has some strong elements (UK retail, UK corporate) but is constrained by a subscale investment bank and a heavily loss-making Irish business that is unlikely to make a decent return for years.,” the firm’s analyst commented.
Royal Bank of Scotland Group plc traded up 1.79% on Friday, hitting GBX 312.40. Royal Bank of Scotland Group plc has a 1-year low of GBX 193.30 and a 1-year high of GBX 370.62. The stock’s 50-day moving average is currently GBX 265.8.
Several other analysts have also recently commented on the stock. Analysts at Investec reiterated a sell rating on shares of Royal Bank of Scotland Group plc in a research note to investors on Friday. They now have a $4.40 price target on the stock. Separately, analysts at Prime Markets reiterated a sell rating on shares of Royal Bank of Scotland Group plc in a research note to investors on Thursday, February 28th. They now have a $4.75 price target on the stock. Finally, analysts at Oriel Securities Ltd reiterated a hold rating on shares of Royal Bank of Scotland Group plc in a research note to investors on Thursday, February 28th. They now have a $3.11 price target on the stock.
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