Berenberg Bank Forecasts Strong Price Appreciation for Currys (LON:CURY) Stock

Key Points

• Berenberg Bank raised its target price for Currys (LON:CURY) from GBX 175 to GBX 200, indicating a potential upside of 40.58% from the current stock price and maintaining a "buy" rating.
• Several analysts have affirmed a generally positive outlook for Currys, with a consensus rating of "Buy" and an average price target of GBX 160.
• The company announced a stock repurchase program, signaling confidence in the stock's undervaluation despite recent insider sales totaling more than £136 million in the past three months.

Currys (LON:CURY - Get Free Report) had its target price boosted by equities researchers at Berenberg Bank from GBX 175 to GBX 200 in a report released on Monday, MarketBeat reports. The firm currently has a "buy" rating on the stock. Berenberg Bank's price target would suggest a potential upside of 40.58% from the stock's current price.

Several other equities analysts have also recently issued reports on the stock. Deutsche Bank Aktiengesellschaft reissued a "buy" rating and issued a GBX 130 price objective on shares of Currys in a research note on Friday, July 4th. Shore Capital restated a "no recommendation" rating on shares of Currys in a research report on Thursday, July 3rd. Finally, Citigroup boosted their target price on shares of Currys from GBX 121 to GBX 150 and gave the stock a "buy" rating in a research report on Tuesday, July 15th. Three investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average price target of GBX 160.

Currys Stock Performance

Shares of CURY opened at GBX 142.27 on Monday. The company has a debt-to-equity ratio of 45.83, a quick ratio of 0.29 and a current ratio of 0.86. The stock has a market capitalization of £1.51 billion, a P/E ratio of 14.98 and a beta of 1.31. The company's fifty day moving average is GBX 128.93 and its two-hundred day moving average is GBX 120.17. Currys has a 1 year low of GBX 74.90 and a 1 year high of GBX 145.30.

Currys announced that its board has approved a stock repurchase program on Thursday, September 4th that allows the company to repurchase 0 outstanding shares. This repurchase authorization allows the company to repurchase shares of its stock through open market purchases. Stock repurchase programs are generally a sign that the company's leadership believes its shares are undervalued.

Insider Activity

In related news, insider Alex Baldock sold 671,132 shares of the business's stock in a transaction dated Friday, July 25th. The shares were sold at an average price of GBX 115, for a total value of £771,801.80. Also, insider Bruce Marsh sold 316,501 shares of the business's stock in a transaction dated Friday, July 25th. The shares were sold at an average price of GBX 115, for a total transaction of £363,976.15. Insiders sold a total of 1,190,536 shares of company stock valued at $136,372,284 in the last three months. 14.23% of the stock is currently owned by corporate insiders.

Currys Company Profile

Currys plc is a leading omnichannel retailer of technology products and services, operating online and through over 800 stores in 8 countries. We Help Everyone Enjoy Amazing Technology, however they choose to shop with us. In the UK & Ireland we trade as Currys; in the Nordics under the Elkjøp brand and as Kotsovolos in Greece.

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