Conduit (LON:CRE) Given New GBX 360 Price Target at Royal Bank Of Canada

Key Points

• Royal Bank of Canada has raised its price target for Conduit (LON:CRE) from GBX 300 to GBX 360, suggesting a potential upside of 0.84% from the current price.
• Berenberg Bank has reaffirmed a "buy" rating with a higher price target of GBX 700 for Conduit, contributing to an average target price of GBX 530.
• Conduit Re, based in Bermuda, operates as a multi-line reinsurance business with a strong Financial Strength Rating of A- (Excellent) from A.M. Best.

Conduit (LON:CRE - Get Free Report) had its price target raised by equities research analysts at Royal Bank Of Canada from GBX 300 to GBX 360 in a report released on Tuesday,London Stock Exchange reports. The firm presently has a "sector perform" rating on the stock. Royal Bank Of Canada's target price would suggest a potential upside of 0.84% from the stock's current price.

Separately, Berenberg Bank reaffirmed a "buy" rating and issued a GBX 700 price target on shares of Conduit in a report on Monday, September 15th. One investment analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of GBX 530.

Conduit Price Performance

LON:CRE opened at GBX 357 on Tuesday. The business's 50-day moving average price is GBX 307.64 and its two-hundred day moving average price is GBX 345.39. Conduit has a twelve month low of GBX 271 and a twelve month high of GBX 546. The stock has a market cap of £558.65 million, a P/E ratio of 4,462.50 and a beta of 0.52.

About Conduit

Conduit Re is a Bermuda-based multi-line reinsurance business with global reach. Conduit Reinsurance Limited is licensed by the Bermuda Monetary Authority as a Class 4 insurer. A.M. Best has assigned a Financial Strength Rating of A- (Excellent) and a Long-Term Issuer Credit Rating of a- (Excellent) to Conduit Reinsurance Limited.

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