Hiscox (LON:HSX) Price Target Raised to GBX 2,050

Key Points

• JPMorgan Chase & Co. raised its price target on Hiscox from GBX 1,800 to GBX 2,050 and kept an overweight rating, implying about 9.74% upside from the previous close.
• Other analysts remain mixed: Peel Hunt and RBC are positive, Berenberg upgraded its target, while Jefferies still has an underperform rating. Overall, MarketBeat shows a Moderate Buy consensus with an average target of GBX 1,770.17.
• Hiscox stock opened at GBX 1,868, near its 12-month high of GBX 1,966.44, and the company has a market cap of about £5.99 billion.

Hiscox (LON:HSX - Get Free Report) had its price target lifted by equities researchers at JPMorgan Chase & Co. from GBX 1,800 to GBX 2,050 in a research note issued to investors on Friday,London Stock Exchange reports. The brokerage presently has an "overweight" rating on the stock. JPMorgan Chase & Co.'s price target would suggest a potential upside of 9.74% from the company's previous close.

A number of other equities analysts have also commented on the stock. Peel Hunt restated an "add" rating and issued a GBX 1,960 price target on shares of Hiscox in a research report on Thursday, May 28th. Jefferies Financial Group reiterated an "underperform" rating and issued a GBX 1,148 target price on shares of Hiscox in a research note on Thursday, May 7th. Royal Bank Of Canada reissued an "outperform" rating and issued a GBX 1,850 target price on shares of Hiscox in a report on Wednesday, June 24th. Finally, Berenberg Bank increased their price target on Hiscox from GBX 1,760 to GBX 1,900 and gave the stock a "buy" rating in a research report on Friday, May 8th. Five analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of GBX 1,770.17.

Hiscox Stock Performance

HSX opened at GBX 1,868 on Friday. The firm has a market cap of £5.99 billion, a price-to-earnings ratio of 10.67, a PEG ratio of -2.30 and a beta of 0.40. The firm's 50-day simple moving average is GBX 1,762.22 and its 200-day simple moving average is GBX 1,588.26. Hiscox has a twelve month low of GBX 1,224.83 and a twelve month high of GBX 1,966.44.

About Hiscox

Hiscox is a global, specialty insurer, listed on the London Stock Exchange and headquartered in Bermuda. We have grown from our roots as a niche Lloyd's of London underwriter into a diversified international insurance group operating across direct‑to‑consumer, broker and partner‑distributed retail insurance; large and complex commercial insurance; reinsurance and insurance‑linked strategies. We currently employ over 3,000 people worldwide across 13 countries and 31 offices. We have a distinctive brand, energised and ambitious teams, a strong balance sheet, and plenty of room to grow in each of our chosen markets and lines of business.

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