Deutsche Bank Lowers Royal Mail (RMG) Price Target to GBX 250
Royal Mail (LON:RMG) had its target price reduced by stock analysts at Deutsche Bank from GBX 300 ($3.92) to GBX 250 ($3.27) in a research note issued to investors on Thursday. The brokerage presently has a “sell” rating on the stock. Deutsche Bank’s price target indicates a potential downside of 19.20% from the company’s current price.
RMG has been the topic of several other research reports. Royal Bank of Canada reiterated a “sector perform” rating on shares of Royal Mail in a report on Monday, October 1st. Credit Suisse Group reiterated an “underperform” rating on shares of Royal Mail in a report on Thursday, August 23rd. Berenberg Bank reduced their price target on Royal Mail from GBX 300 ($3.92) to GBX 280 ($3.66) and set a “sell” rating on the stock in a report on Tuesday, November 20th. Citigroup lowered Royal Mail to a “sell” rating in a report on Friday, October 5th. Finally, HSBC downgraded Royal Mail to a “hold” rating and cut their price objective for the stock from GBX 552 ($7.21) to GBX 379 ($4.95) in a research report on Tuesday, October 9th. Seven analysts have rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of GBX 383.43 ($5.01).
LON RMG opened at GBX 309.40 ($4.04) on Thursday. Royal Mail has a 52 week low of GBX 367.80 ($4.81) and a 52 week high of GBX 575 ($7.51).
In other Royal Mail news, insider Rico Back acquired 112,000 shares of the business’s stock in a transaction that occurred on Monday, November 19th. The stock was purchased at an average cost of GBX 318 ($4.16) per share, with a total value of £356,160 ($465,386.12).
Royal Mail Company Profile
Royal Mail plc, together with its subsidiaries, operates as an universal postal service provider in the United Kingdom, the United States, and other European countries. It offers parcels and letter delivery services under the Royal Mail and Parcelforce Worldwide brands. The company also provides services for the collection, sorting, and delivery of parcels and letters; and designs and produces stamps and philatelic items, as well as offers media and marketing mail services.
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