Conduit (LON:CRE) Given Buy Rating at Berenberg Bank

Conduit (LON:CRE)‘s stock had its “buy” rating reaffirmed by stock analysts at Berenberg Bank in a report released on Monday, Digital Look reports. They currently have a GBX 765 price objective on the stock. Berenberg Bank’s price objective would indicate a potential upside of 67.95% from the stock’s current price.

A number of other equities research analysts have also issued reports on CRE. Jefferies Financial Group reissued a “buy” rating and issued a GBX 427 price objective on shares of Conduit in a report on Thursday, July 30th. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a GBX 450 target price on shares of Conduit in a research note on Friday, July 31st. Three investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of GBX 545.50.

Conduit Stock Performance

LON CRE opened at GBX 455.50 on Monday. The stock’s fifty day moving average is GBX 445.22 and its two-hundred day moving average is GBX 440.65. The firm has a market capitalization of £637.89 million, a P/E ratio of 3.37 and a beta of 0.58. Conduit has a fifty-two week low of GBX 271 and a fifty-two week high of GBX 484.

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).