Conduit's (CRE) Buy Rating Reaffirmed at Berenberg Bank

Key Points

• Conduit (LON:CRE) had its "buy" rating reaffirmed by Berenberg Bank, which set a price target of GBX 700, indicating a potential upside of 134.36% from the stock's previous close.
• In contrast, Royal Bank of Canada reduced their price objective for Conduit from GBX 400 to GBX 300, giving it a "sector perform" rating; the stock currently has an average rating of "Moderate Buy" with a consensus price target of GBX 500.
• As of Monday, Conduit stock was up 2.6% and has a market capitalization of £467.40 million, with a 12-month price range between GBX 271 and GBX 547.

Berenberg Bank restated their buy rating on shares of Conduit (LON:CRE - Free Report) in a research report released on Monday morning, MarketBeat.com reports. They currently have a GBX 700 target price on the stock.

Separately, Royal Bank Of Canada reduced their price target on Conduit from GBX 400 to GBX 300 and set a "sector perform" rating on the stock in a report on Thursday, July 31st. One research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat.com, Conduit has an average rating of "Moderate Buy" and a consensus price target of GBX 500.

Conduit Price Performance

LON:CRE traded down GBX 0.57 during mid-day trading on Monday, reaching GBX 299.43. 1,002,893 shares of the company's stock traded hands, compared to its average volume of 956,518. Conduit has a 12-month low of GBX 271 and a 12-month high of GBX 547. The firm has a market capitalization of £468.56 million, a price-to-earnings ratio of 3,742.88 and a beta of 0.52. The company has a 50 day moving average price of GBX 317.10 and a 200-day moving average price of GBX 350.34.

Conduit Company Profile

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.