Lancashire (LRE) PT Lowered to GBX 636
Lancashire (LON:LRE) had its price target cut by Barclays from GBX 693 ($9.06) to GBX 636 ($8.31) in a research note issued to investors on Friday. The brokerage currently has an “equal weight” rating on the stock. Barclays’ price target would suggest a potential upside of 18.55% from the company’s previous close.
Several other research firms have also recently issued reports on LRE. Peel Hunt reiterated an “add” rating on shares of Lancashire in a report on Wednesday, September 12th. Shore Capital reiterated an “under review” rating on shares of Lancashire in a report on Monday, October 8th. Numis Securities upgraded Lancashire to a “buy” rating in a report on Thursday, July 26th. Canaccord Genuity reiterated a “buy” rating and issued a GBX 720 ($9.41) price objective on shares of Lancashire in a report on Thursday, September 6th. Finally, JPMorgan Chase & Co. lifted their price objective on Lancashire from GBX 650 ($8.49) to GBX 725 ($9.47) and gave the stock a “neutral” rating in a report on Tuesday, October 9th. Nine analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Lancashire presently has a consensus rating of “Hold” and an average target price of GBX 690.38 ($9.02).
Shares of Lancashire stock opened at GBX 536.50 ($7.01) on Friday. Lancashire has a twelve month low of GBX 542.50 ($7.09) and a twelve month high of GBX 773.50 ($10.11).
Lancashire Holdings Limited provides specialty insurance and reinsurance products worldwide. The company operates through five segments: Property, Energy, Marine, Aviation, and Lloyd's. It offers aviation insurance solutions; coverage for upstream operational and construction all risks related to wind, earthquakes, and floods, as well as standalone business interruption coverage; and a range of coverages in marine portfolio, including marine hull, total loss only, mortgagees interests insurance, mortgagees additional perils, excess protection and indemnity, marine war, and builder's risks to high-profile accounts, cruise vessels, and liquid natural gas carriers.
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