Conduit’s (CRE) Buy Rating Reiterated at Berenberg Bank

Berenberg Bank reaffirmed their buy rating on shares of Conduit (LON:CRE) in a research report released on Monday,Digital Look reports. Berenberg Bank currently has a GBX 765 price objective on the stock.

CRE has been the subject of several other reports. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a GBX 450 price target on shares of Conduit in a research note on Friday, July 31st. Jefferies Financial Group reissued a “buy” rating and issued a GBX 427 price objective on shares of Conduit in a research report on Thursday, July 30th. Three analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of GBX 560.75.

Conduit Stock Performance

Shares of Conduit stock opened at GBX 434 on Monday. The business’s 50 day simple moving average is GBX 443.58 and its 200 day simple moving average is GBX 441.63. Conduit has a 52-week low of GBX 274 and a 52-week high of GBX 484. The firm has a market cap of £607.78 million, a PE ratio of 3.21 and a beta of 0.58.

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).