Berenberg Bank Raises Hiscox (LON:HSX) Price Target to GBX 2,150

Key Points

• Berenberg Bank raised its Hiscox price target from GBX 1,900 to GBX 2,150 and maintained a “buy” rating, implying 17.29% upside from the prior close.
• Analyst sentiment is generally positive: Hiscox has five buy ratings, one hold and one sell, resulting in a “Moderate Buy” consensus and an average price target of GBX 1,838.14.
• Hiscox shares rose 1.2% to open at GBX 1,833, with the insurer valued at approximately £5.86 billion and trading near its 12-month high of GBX 1,966.44.

Hiscox (LON:HSX - Get Free Report) had its price target upped by analysts at Berenberg Bank from GBX 1,900 to GBX 2,150 in a report issued on Friday,London Stock Exchange reports. The firm currently has a "buy" rating on the stock. Berenberg Bank's price target would indicate a potential upside of 17.29% from the company's previous close.

Other research analysts also recently issued reports about the company. Citigroup lifted 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. Peel Hunt reaffirmed an "add" rating and issued a GBX 1,960 price target on shares of Hiscox in a report on Wednesday. JPMorgan Chase & Co. lifted their target price on Hiscox from GBX 1,800 to GBX 2,050 and gave the stock an "overweight" rating in a report on Friday, July 10th. Royal Bank Of Canada restated an "outperform" rating and set a GBX 2,000 target price on shares of Hiscox in a research report on Thursday. Finally, Jefferies Financial Group restated an "underperform" rating and issued a GBX 1,148 price objective on shares of Hiscox in a research report on Thursday, May 7th. Five equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Hiscox presently has an average rating of "Moderate Buy" and a consensus price target of GBX 1,838.14.

Hiscox Trading Up 1.2%

HSX opened at GBX 1,833 on Friday. Hiscox has a 12-month low of GBX 1,257.18 and a 12-month high of GBX 1,966.44. The business's fifty day simple moving average is GBX 1,810.82 and its 200-day simple moving average is GBX 1,647.73. The company has a market capitalization of £5.86 billion, a price-to-earnings ratio of 10.47, a PEG ratio of -2.30 and a beta of 0.40.

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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