Berenberg Bank Reaffirms "Buy" Rating for Focusrite (LON:TUNE)

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.

Focusrite (LON:TUNE - Get Free Report)'s stock had its "buy" rating reaffirmed by equities research analysts at Berenberg Bank in a research note issued to investors on Tuesday, Marketbeat.com reports. They currently have a GBX 355 price target on the stock. Berenberg Bank's price target indicates a potential upside of 84.79% from the company's previous close.

Focusrite Trading Up 16.8%

Shares of Focusrite stock traded up GBX 27.61 on Tuesday, hitting GBX 192.11. 369,291 shares of the company's stock traded hands, compared to its average volume of 153,497. Focusrite has a one year low of GBX 130 and a one year high of GBX 295. The company has a debt-to-equity ratio of 36.98, a current ratio of 1.57 and a quick ratio of 0.77. The company has a fifty day moving average of GBX 162.26 and a two-hundred day moving average of GBX 162.66. The company has a market capitalization of £112.62 million, a price-to-earnings ratio of 5,650.29, a price-to-earnings-growth ratio of 2.95 and a beta of 1.04.

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.

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