Hiscox (LON:HSX) Stock Gets Price Target Increase from Berenberg Bank

Key Points

• Berenberg Bank raised its Hiscox price target from GBX 2,150 to GBX 2,250 and maintained a “buy” rating, implying 14.33% upside from the previous close.
• Analyst views are mixed, but the consensus rating is “Moderate Buy,” with an average price target of GBX 1,852.43; five analysts rate the stock Buy, one Hold, and one Sell.
• Hiscox shares opened at GBX 1,968 and were up 1.5% on Wednesday. The insurer has a market capitalization of £6.23 billion.

Hiscox (LON:HSX - Get Free Report) had its target price hoisted by analysts at Berenberg Bank from GBX 2,150 to GBX 2,250 in a report released on Wednesday, Digital Look reports. The brokerage presently has a "buy" rating on the stock. Berenberg Bank's price target points to a potential upside of 14.33% from the stock's previous close.

A number of other analysts have also commented on HSX. Royal Bank Of Canada reissued an "outperform" rating and issued a GBX 2,000 target price on shares of Hiscox in a report on Thursday, August 6th. Citigroup upped their price target on Hiscox from GBX 1,611 to GBX 1,846 and gave the company a "neutral" rating in a report on Thursday, August 6th. Jefferies Financial Group reaffirmed an "underperform" rating and set a GBX 1,148 price target on shares of Hiscox in a report on Tuesday. JPMorgan Chase & Co. increased their price objective on Hiscox from GBX 1,800 to GBX 2,050 and gave the company an "overweight" rating in a research report on Friday, July 10th. Finally, Peel Hunt reiterated an "add" rating and issued a GBX 1,960 price objective on shares of Hiscox in a report on Wednesday, August 5th. Five investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of GBX 1,852.43.

Hiscox Trading Up 1.5%

HSX stock opened at GBX 1,968 on Wednesday. The stock has a market capitalization of £6.23 billion, a PE ratio of 10.39, a price-to-earnings-growth ratio of -2.30 and a beta of 0.40. Hiscox has a 12-month low of GBX 1,288 and a 12-month high of GBX 1,981. The stock's 50 day simple moving average is GBX 1,864.45 and its 200 day simple moving average is GBX 1,708.11.

About Hiscox

Hiscox is a global, specialty insurer, listed on the London Stock Exchange and headquartered in Bermuda. We have grown from our roots as a niche Lloyd's of London underwriter into a diversified international insurance group operating across direct‑to‑consumer, broker and partner‑distributed retail insurance; large and complex commercial insurance; reinsurance and insurance‑linked strategies. We currently employ over 3,000 people worldwide across 13 countries and 31 offices. We have a distinctive brand, energised and ambitious teams, a strong balance sheet, and plenty of room to grow in each of our chosen markets and lines of business.

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