discoverIE Group's (DSCV) Buy Rating Reiterated at Berenberg Bank

Key Points

• Berenberg Bank reaffirmed its “Buy” rating on discoverIE Group and set a GBX 1,050 price target, implying 39.14% upside from the stock’s current price.
• Analyst sentiment remains favorable, with six Buy ratings and two Holds, resulting in a consensus “Moderate Buy” rating and an average target price of GBX 894.38.
• discoverIE shares opened 2.1% higher at GBX 754.64, while the company recently reported quarterly EPS of GBX 41.30 and revenue of £443.30 million.

discoverIE Group (LON:DSCV - Get Free Report)'s stock had its "buy" rating reaffirmed by equities research analysts at Berenberg Bank in a report issued on Monday,Digital Look reports. They presently have a GBX 1,050 price objective on the stock. Berenberg Bank's price target suggests a potential upside of 39.14% from the stock's current price.

DSCV has been the topic of several other research reports. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and set a GBX 870 price target on shares of discoverIE Group in a research note on Tuesday, June 23rd. Peel Hunt restated a "buy" rating and set a GBX 1,000 target price on shares of discoverIE Group in a research note on Friday. Jefferies Financial Group reaffirmed a "hold" rating and set a GBX 685 target price on shares of discoverIE Group in a research report on Thursday, June 4th. Royal Bank Of Canada cut discoverIE Group to a "sector perform" rating and set a GBX 800 price target on the stock. in a research note on Friday, June 5th. Finally, Shore Capital Group reissued a "buy" rating on shares of discoverIE Group in a report on Friday, April 17th. Six research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, discoverIE Group presently has a consensus rating of "Moderate Buy" and a consensus target price of GBX 894.38.

discoverIE Group Stock Up 2.1%

Shares of LON:DSCV opened at GBX 754.64 on Monday. The company has a quick ratio of 0.96, a current ratio of 1.45 and a debt-to-equity ratio of 72.98. discoverIE Group has a 52-week low of GBX 505 and a 52-week high of GBX 800. The company has a 50 day moving average of GBX 702.07 and a two-hundred day moving average of GBX 645.63. The company has a market capitalization of £725.41 million, a price-to-earnings ratio of 25.67 and a beta of 1.28.

discoverIE Group (LON:DSCV - Get Free Report) last posted its quarterly earnings data on Wednesday, June 3rd. The company reported GBX 41.30 earnings per share (EPS) for the quarter. The company had revenue of £443.30 million for the quarter. discoverIE Group had a net margin of 6.54% and a return on equity of 9.04%. As a group, analysts forecast that discoverIE Group will post 37.5 earnings per share for the current fiscal year.

About discoverIE Group

discoverIE Group plc is an international group of businesses that design and manufacture innovative electronic components for industrial use. The Group provides application-specific components to original equipment manufacturers (“OEMs”) internationally, with a focus on key markets driven by structural growth and increasing electronic content, namely renewable energy, medical, transportation, security, and industrial & connectivity. The Group employs c.4,500 people across 20 countries. Its principal operating units are located in Continental Europe, the UK, China, Sri Lanka, India, Thailand, Mexico and the USA.

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