Citigroup Issues Pessimistic Forecast for Tate & Lyle (LON:TATE) Stock Price

Key Points

• Citigroup has lowered its price target for Tate & Lyle from GBX 670 to GBX 540, while maintaining a "buy" rating, indicating a potential upside of 42.02% from the current price.
• Other analysts have varied opinions, with Berenberg Bank increasing its target to GBX 620 and Deutsche Bank maintaining a buy rating with a target of GBX 800.
• Tate & Lyle shares opened at GBX 380.22 on Thursday, experiencing a decline of 2.8% and having a 1-year price range from GBX 374 to GBX 848.50.

Tate & Lyle (LON:TATE - Get Free Report) had its price target cut by investment analysts at Citigroup from GBX 670 to GBX 540 in a research note issued on Thursday,Digital Look reports. The brokerage currently has a "buy" rating on the stock. Citigroup's price objective would indicate a potential upside of 42.02% from the company's current price.

A number of other brokerages have also weighed in on TATE. Berenberg Bank raised their price objective on Tate & Lyle from GBX 600 to GBX 620 and gave the company a "hold" rating in a report on Wednesday, July 9th. Deutsche Bank Aktiengesellschaft restated a "buy" rating and issued a GBX 800 price objective on shares of Tate & Lyle in a report on Thursday, July 3rd. Two equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of GBX 653.33.

Tate & Lyle Trading Down 2.8%

Shares of LON:TATE opened at GBX 380.22 on Thursday. Tate & Lyle has a 1 year low of GBX 374 and a 1 year high of GBX 848.50. The firm has a market capitalization of £1.68 billion, a price-to-earnings ratio of 1,102.09, a price-to-earnings-growth ratio of 1.37 and a beta of 0.50. The company has a debt-to-equity ratio of 47.66, a current ratio of 3.22 and a quick ratio of 1.77. The business's 50 day moving average price is GBX 516.69 and its 200-day moving average price is GBX 531.19.

Insider Activity

In related news, insider Sarah Kuijlaars bought 15,000 shares of the business's stock in a transaction on Tuesday, July 15th. The stock was acquired at an average cost of GBX 518 per share, with a total value of £77,700. 1.65% of the stock is owned by company insiders.

Tate & Lyle Company Profile

Tate & Lyle PLC, together with its subsidiaries, provides ingredients and solutions to the food, beverage, and other industries in the United States, the United Kingdom, other European countries, and internationally. It operates through three segments: Food & Beverage Solutions, Sucralose, and Primary Products.

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