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The Berkeley Group (LON:BKG) Given New GBX 4,000 Price Target at Berenberg Bank

The Berkeley Group logo with Consumer Cyclical background
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Key Points

  • Berenberg Bank cut its price target on The Berkeley Group from GBX 4,500 to GBX 4,000 but retained a "buy" rating, implying roughly a 26% upside; the analyst consensus is a "Moderate Buy" with an average target of GBX 4,133.
  • The shares traded at GBX 3,168 and sit below both the 50- and 200-day moving averages after the company paused land purchases and rephased its 2035 strategy—an update that drove a sharp intraday decline—while recent insider buys by the executive chair and a CFO-linked buyer suggest some management confidence.
  • MarketBeat previews top five stocks to own in June.

The Berkeley Group (LON:BKG - Get Free Report) had its price target decreased by stock analysts at Berenberg Bank from GBX 4,500 to GBX 4,000 in a research note issued on Thursday,London Stock Exchange reports. The brokerage presently has a "buy" rating on the stock. Berenberg Bank's price objective suggests a potential upside of 26.26% from the stock's current price.

Several other research firms also recently commented on BKG. Bank of America raised shares of The Berkeley Group to a "buy" rating and dropped their price objective for the company from GBX 4,080 to GBX 4,020 in a report on Monday. JPMorgan Chase & Co. reduced their target price on shares of The Berkeley Group from GBX 5,000 to GBX 4,200 and set an "overweight" rating for the company in a report on Thursday. Finally, Royal Bank Of Canada upgraded shares of The Berkeley Group to a "sector perform" rating and set a GBX 3,900 target price for the company in a research report on Wednesday. Four investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, The Berkeley Group has an average rating of "Moderate Buy" and an average target price of GBX 4,133.17.

Read Our Latest Research Report on The Berkeley Group

The Berkeley Group Stock Performance

LON BKG traded up GBX 64 during trading hours on Thursday, reaching GBX 3,168. The stock had a trading volume of 950,794 shares, compared to its average volume of 1,085,736. The Berkeley Group has a 52-week low of GBX 2,796 and a 52-week high of GBX 4,442. The company has a debt-to-equity ratio of 18.94, a quick ratio of 0.57 and a current ratio of 3.54. The stock has a market cap of £2.99 billion, a P/E ratio of 8.62, a price-to-earnings-growth ratio of -0.87 and a beta of 1.19. The stock has a fifty day moving average of GBX 3,992.22 and a 200 day moving average of GBX 3,919.74.

Key Headlines Impacting The Berkeley Group

Here are the key news stories impacting The Berkeley Group this week:

About The Berkeley Group

(Get Free Report)

At Berkeley Group we build homes and neighbourhoods across London, Birmingham and the South of England. Our passion and purpose is to build quality homes, strengthen communities and make a positive difference to people's lives. We use our sustained commercial success to make valuable and enduring contributions that benefit all our stakeholders. We specialise in brownfield regeneration, working closely with local communities and councils to revive underused land and create homes where they are needed most.

Further Reading

Analyst Recommendations for The Berkeley Group (LON:BKG)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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