Berenberg Bank Reaffirms Buy Rating for Phoenix Group (LON:PHNX)

Key Points

• Berenberg Bank has reaffirmed a "buy" rating for Phoenix Group (LON:PHNX) with a price target of GBX 850, indicating a potential upside of 28.63% from its previous close.
• Meanwhile, Royal Bank of Canada has reduced their price target for the stock from GBX 725 to GBX 690, maintaining an "outperform" rating.
• Phoenix Group, the UK's largest long-term savings and retirement business, manages around £300 billion in assets and serves approximately 12 million customers.

Phoenix Group (LON:PHNX - Get Free Report)'s stock had its "buy" rating reissued by Berenberg Bank in a research note issued on Wednesday,London Stock Exchange reports. They presently have a GBX 850 price objective on the stock. Berenberg Bank's target price points to a potential upside of 28.63% from the company's previous close.

Separately, Royal Bank Of Canada cut their price objective on Phoenix Group from GBX 725 to GBX 690 and set an "outperform" rating on the stock in a research report on Thursday, July 24th. Two analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of GBX 701.67.

Phoenix Group Price Performance

PHNX opened at GBX 660.79 on Wednesday. The stock's 50 day simple moving average is GBX 665.49 and its 200 day simple moving average is GBX 611.28. The company has a debt-to-equity ratio of 160.32, a current ratio of 3.30 and a quick ratio of 0.12. Phoenix Group has a 1 year low of GBX 475.20 and a 1 year high of GBX 699.50. The firm has a market cap of £6.60 billion, a price-to-earnings ratio of -591.05, a PEG ratio of 1.95 and a beta of 0.73.

About Phoenix Group

Phoenix is the UK's largest long-term savings and retirement business with c. £300 billion of assets under administration and c. 12 million customers. We are a constituent of the FTSE 100 with c. 7,800 colleagues and offer a broad range of products to support people across all stages of the savings life cycle. We are a growing and sustainable business with a clear purpose – helping people secure a life of possibilities.

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