Berenberg Bank Lowers IP Group (LON:IPO) Price Target to GBX 100

Key Points

• Berenberg Bank has reduced its price target for IP Group from GBX 126 to GBX 100, while maintaining a "buy" rating on the stock.
• Despite the lower target, this suggests a potential upside of 69.49% from the stock's previous close.
• IP Group's current stock price opened at GBX 59, with a 12-month high of GBX 62.50 and a low of GBX 34.35.

IP Group (LON:IPO - Free Report) had its target price lowered by Berenberg Bank from GBX 126 to GBX 100 in a research report sent to investors on Wednesday morning, Marketbeat reports. The firm currently has a buy rating on the stock.

IP Group Stock Down 0.5%

IPO stock traded down GBX 0.30 during trading hours on Wednesday, reaching GBX 55.50. 2,430,407 shares of the stock were exchanged, compared to its average volume of 5,257,637. The firm's 50-day moving average is GBX 57.85 and its 200-day moving average is GBX 48.63. The company has a market cap of £501.24 million, a price-to-earnings ratio of -277.92 and a beta of 1.36. The company has a debt-to-equity ratio of 13.99, a current ratio of 9.28 and a quick ratio of 8.59. IP Group has a 12 month low of GBX 34.35 and a 12 month high of GBX 62.50.

IP Group Company Profile

IP Group accelerates the impact of science for a better future. As the most active UK based, early-stage science investor, we develop and support some of the world's most exciting businesses in deeptech, life sciences and cleantech (led by Kiko Ventures). Through Parkwalk, the UK's largest growth EIS fund manager, we also back world-changing innovation emerging in leading universities and research institutions.