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

Conduit (LON:CRE)‘s stock had its “buy” rating reissued by stock analysts at Berenberg Bank in a report released on Thursday,London Stock Exchange reports. They currently have a GBX 782 price objective on the stock. Berenberg Bank’s target price points to a potential upside of 80.39% from the company’s previous close.

Separately, Royal Bank Of Canada lifted their target price on shares of Conduit from GBX 390 to GBX 450 and gave the company a “sector perform” rating in a research note on Friday, May 15th. Three equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of GBX 536.50.

Conduit Price Performance

CRE opened at GBX 433.50 on Thursday. The company has a current ratio of 696.25, a quick ratio of 1.19 and a debt-to-equity ratio of 0.07. Conduit has a 1 year low of GBX 271 and a 1 year high of GBX 484. The stock has a fifty day moving average price of GBX 449.88 and a 200 day moving average price of GBX 425.03. The stock has a market cap of £639.38 million, a price-to-earnings ratio of 5.86 and a beta of 0.59.

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).