Conduit (LON:CRE) Earns “Buy” Rating from Berenberg Bank

Conduit (LON:CRE)‘s stock had its “buy” rating reissued by analysts at Berenberg Bank in a report issued on Thursday, MarketBeat reports. They currently have a GBX 782 target price on the stock. Berenberg Bank’s price objective points to a potential upside of 78.34% from the company’s previous close.

Separately, Royal Bank Of Canada lifted their target price on Conduit from GBX 390 to GBX 450 and gave the company a “sector perform” rating in a research note on Friday, May 15th. Three research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, Conduit currently has an average rating of “Moderate Buy” and a consensus price target of GBX 536.50.

Conduit Price Performance

LON:CRE opened at GBX 438.50 on Thursday. The business’s fifty day moving average price is GBX 449.45 and its 200 day moving average price is GBX 425.49. The firm has a market capitalization of £646.76 million, a price-to-earnings ratio of 5.93 and a beta of 0.59. The company has a current ratio of 696.25, a quick ratio of 1.19 and a debt-to-equity ratio of 0.07. Conduit has a 1-year low of GBX 271 and a 1-year high of GBX 484.

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. The outlook assigned to these ratings is stable.

Conduit Holdings Limited is the ultimate parent of Conduit Reinsurance Limited and is listed on the London Stock Exchange (ticker: CRE).