APN Resources' (APN) "Buy" Rating Reaffirmed at Canaccord Genuity Group

Key Points

• Canaccord Genuity reiterated a "Buy" rating on APN Resources and set a price target of GBX 315, implying roughly a 56.9% upside; the stock's consensus from three Buys and one Hold is a Moderate Buy with an average target of GBX 251.25.
• Despite analyst support, shares plunged 9.2% to GBX 200.75 on heavy volume (6.57M vs avg. 666k), leaving a market cap of about £501.9M and a P/E of 23.9.

APN Resources (LON:APN - Get Free Report)'s stock had its "buy" rating reiterated by equities researchers at Canaccord Genuity Group in a research report issued on Monday,London Stock Exchange reports. They presently have a GBX 315 price target on the stock. Canaccord Genuity Group's price target points to a potential upside of 56.91% from the stock's previous close.

A number of other brokerages have also commented on APN. Berenberg Bank reiterated a "buy" rating and issued a GBX 290 price target on shares of APN Resources in a research note on Monday. Peel Hunt restated a "hold" rating and set a GBX 210 price objective on shares of APN Resources in a research report on Friday, December 19th. Three equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat, APN Resources presently has a consensus rating of "Moderate Buy" and an average price target of GBX 251.25.

APN Resources Stock Down 9.2%

Shares of APN traded down GBX 20.25 during trading hours on Monday, hitting GBX 200.75. The company had a trading volume of 6,574,640 shares, compared to its average volume of 666,390. The firm has a market cap of £501.88 million and a price-to-earnings ratio of 23.90. The business has a fifty day moving average of GBX 238.89 and a 200-day moving average of GBX 208.39. APN Resources has a 12 month low of GBX 104.18 and a 12 month high of GBX 261.

About APN Resources

Applied Nutrition plc LSE: APN is a leading sports nutrition, health and wellness brand, which formulates and creates nutrition products with a stated aim of being the world's most trusted and innovative brand in the market. Headquartered in the UK, the Group sells products in over 85 countries worldwide and has a diverse product range, targeting elite athletes, gym goers and health-conscious consumers. Applied Nutrition has developed and launched four ranges under the umbrella of the Applied Nutrition brand - Applied Nutrition, ABE, BodyFuel, and Endurance.

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