Focusrite (LON:TUNE) Receives "Buy" Rating from Berenberg Bank

Key Points

• Berenberg Bank has reaffirmed its "buy" rating for Focusrite (LON:TUNE) with a price target of GBX 355, suggesting a potential upside of 84.79% from the current share price.
• Focusrite's shares saw a significant increase of 16.8%, closing at GBX 192.11 on Tuesday, with 369,291 shares traded.
• The company operates as a global music and audio products group, focusing on developing hardware and software solutions for both professional and amateur musicians.

Berenberg Bank reissued their buy rating on shares of Focusrite (LON:TUNE - Free Report) in a report issued on Tuesday morning, MarketBeat Ratings reports. Berenberg Bank currently has a GBX 355 target price on the stock.

Focusrite Stock Up 3.7%

Shares of TUNE traded up GBX 7.50 during midday trading on Tuesday, hitting GBX 210. The stock had a trading volume of 142,629 shares, compared to its average volume of 154,584. The company has a 50 day simple moving average of GBX 164.39 and a two-hundred day simple moving average of GBX 163.28. Focusrite has a twelve month low of GBX 130 and a twelve month high of GBX 295. The firm has a market cap of £123.11 million, a price-to-earnings ratio of 6,176.47, a price-to-earnings-growth ratio of 2.95 and a beta of 1.04. The company has a debt-to-equity ratio of 36.98, a current ratio of 1.57 and a quick ratio of 0.77.

Focusrite Company Profile

Focusrite plc is a global music and audio products group that develops and markets proprietary hardware and software products. Used by audio professionals and amateur musicians alike, our solutions facilitate the high-quality production of recorded and live sound. We are a rapidly growing group of innovative, market-leading brands, operating across two divisions. Our Content Creation division is focussed on supporting our customers throughout their music-making journey, by removing barriers to creativity and delivering everything they need to make music.