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.

Conduit (LON:CRE - Get Free Report)'s stock had its "buy" rating reaffirmed by research analysts at Berenberg Bank in a research note issued to investors on Monday,Digital Look reports. They currently have a GBX 700 price objective on the stock. Berenberg Bank's target price points to a potential upside of 134.36% from the stock's previous close.

Separately, Royal Bank Of Canada reduced their price objective 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 analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of GBX 500.

Conduit Stock Up 2.6%

Conduit stock opened at GBX 298.69 on Monday. The stock has a 50-day simple moving average of GBX 322.95 and a 200 day simple moving average of GBX 352.44. The stock has a market capitalization of £467.40 million, a price-to-earnings ratio of 3,733.63 and a beta of 0.52. Conduit has a 12-month low of GBX 271 and a 12-month high of GBX 547.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.