Berenberg Bank Upgrades SSP Group (LON:SSPG) to “Buy”

SSP Group (LON:SSPG) was upgraded by analysts at Berenberg Bank to a “buy” rating in a research report issued to clients and investors on Thursday, MarketBeat.com reports. The brokerage currently has a GBX 190 target price on the stock, up from their prior target price of GBX 180. Berenberg Bank’s price objective points to a potential upside of 22.19% from the company’s previous close.

A number of other research firms have also issued reports on SSPG. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a GBX 285 target price on shares of SSP Group in a research note on Wednesday, July 30th. JPMorgan Chase & Co. lowered their target price on SSP Group from GBX 200 to GBX 190 and set a “neutral” rating for the company in a research note on Thursday, August 7th. Citigroup increased their price target on SSP Group from GBX 320 to GBX 330 and gave the company a “buy” rating in a report on Wednesday, July 30th. Shore Capital restated a “house stock” rating on shares of SSP Group in a research note on Tuesday, July 29th. Finally, UBS Group lowered SSP Group to a “sell” rating and set a GBX 170 price objective for the company. in a research note on Friday, July 11th. Three investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of GBX 233.

SSP Group Price Performance

SSPG stock opened at GBX 155.50 on Thursday. The company has a debt-to-equity ratio of 852.29, a quick ratio of 0.66 and a current ratio of 0.44. SSP Group has a 1 year low of GBX 134.10 and a 1 year high of GBX 196.30. The firm has a market cap of £1.25 billion, a P/E ratio of -5,183.33, a price-to-earnings-growth ratio of -0.77 and a beta of 1.88. The stock has a 50-day simple moving average of GBX 166.02 and a 200-day simple moving average of GBX 161.27.

SSP Group Company Profile

SSP is a leading operator of food and beverage outlets in travel locations worldwide, with c.37,000 colleagues in over 600 locations across 36 countries. We operate sit-down and quick service restaurants, cafes, lounges and food-led convenience stores, principally in airports and train stations, with a portfolio of more than 550 international, national and local brands.