Citigroup Forecasts Strong Price Appreciation for Lancashire (LON:LRE) Stock

Key Points

• Citigroup has raised the price target for Lancashire stock from GBX 656 ($8.86) to GBX 696 ($9.40), indicating a potential upside of 12.80% from the previous closing price.
• In addition to Citigroup's upgrade, Royal Bank Of Canada set a higher price target of GBX 750 ($10.13) while JPMorgan Chase & Co. maintained a "neutral" rating for the stock.
• Shares of Lancashire recently traded down 0.6% to GBX 617 ($8.33) with a market capitalization of approximately £1.86 billion.

Lancashire (LON:LRE - Get Free Report) had its price target increased by analysts at Citigroup from GBX 656 ($8.86) to GBX 696 ($9.40) in a research note issued on Wednesday, MarketBeat Ratings reports. The brokerage currently has a "buy" rating on the stock. Citigroup's price target points to a potential upside of 12.80% from the company's previous close.

Several other brokerages have also recently weighed in on LRE. JPMorgan Chase & Co. reissued a "neutral" rating on shares of Lancashire in a research report on Friday, July 18th. Royal Bank Of Canada reissued an "outperform" rating and set a GBX 750 ($10.13) price target on shares of Lancashire in a research report on Thursday, August 7th. Finally, Berenberg Bank restated a "hold" rating and issued a GBX 670 ($9.05) price objective on shares of Lancashire in a report on Thursday, August 7th.

Lancashire Trading Down 0.6%

Shares of LRE stock traded down GBX 4 ($0.05) on Wednesday, hitting GBX 617 ($8.33). 439,489 shares of the stock traded hands, compared to its average volume of 1,167,177. The firm's 50-day moving average price is GBX 599.39 and its two-hundred day moving average price is GBX 593.86. The company has a debt-to-equity ratio of 31.26, a quick ratio of 1.18 and a current ratio of 33.62. The stock has a market capitalization of £1.86 billion, a PE ratio of 11.75, a PEG ratio of 0.21 and a beta of 0.62. Lancashire has a twelve month low of GBX 505 ($6.82) and a twelve month high of GBX 721 ($9.73).

Insider Transactions at Lancashire

In related news, insider Sally Williams acquired 868 shares of Lancashire stock in a transaction that occurred on Tuesday, June 17th. The shares were purchased at an average cost of GBX 575 ($7.76) per share, for a total transaction of £4,991 ($6,738.22). Company insiders own 0.64% of the company's stock.

About Lancashire

Lancashire Holdings Limited, together with its subsidiaries, provides specialty insurance and reinsurance products in London, Bermuda, Australia, and the United States. The company operates through two segments, Reinsurance and Insurance. It offers property direct and facultative, property political risk and sovereign risk, and property terrorism and political violence insurance products; and aviation AV52, aviation consortium, airline hull and liability, and satellite insurance products.

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