Morgan Stanley Lowers Ashmore Group plc (ASHM) Price Target to GBX 346
Ashmore Group plc (LON:ASHM) had its target price lowered by research analysts at Morgan Stanley from GBX 385 ($5.19) to GBX 346 ($4.66) in a research note issued to investors on Monday. The firm presently has an “equal weight” rating on the investment management service provider’s stock. Morgan Stanley’s price target points to a potential downside of 1.14% from the company’s current price.
Several other research firms have also weighed in on ASHM. Shore Capital reissued a “hold” rating on shares of Ashmore Group plc in a report on Friday, July 14th. Numis Securities Ltd reissued a “hold” rating and issued a GBX 320 ($4.31) target price on shares of Ashmore Group plc in a report on Thursday, September 7th. Societe Generale lowered their target price on Ashmore Group plc from GBX 370 ($4.99) to GBX 365 ($4.92) and set a “hold” rating on the stock in a report on Wednesday, September 13th. Credit Suisse Group upped their target price on Ashmore Group plc from GBX 269 ($3.63) to GBX 325 ($4.38) and gave the company an “underperform” rating in a report on Tuesday, July 18th. Finally, BNP Paribas reissued an “underperform” rating and issued a GBX 330 ($4.45) target price on shares of Ashmore Group plc in a report on Tuesday, July 18th. Three investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have issued a buy rating to the company. Ashmore Group plc currently has a consensus rating of “Hold” and an average price target of GBX 355.13 ($4.79).
Shares of Ashmore Group plc (LON ASHM) opened at 350.70 on Monday. The firm’s 50-day moving average is GBX 357.94 and its 200 day moving average is GBX 354.75. Ashmore Group plc has a 52 week low of GBX 269.00 and a 52 week high of GBX 379.70. The firm’s market cap is GBX 2.35 billion.
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In related news, insider Tom Shippey sold 92,785 shares of the stock in a transaction on Monday, September 18th. The stock was sold at an average price of GBX 341 ($4.60), for a total transaction of £316,396.85 ($426,583.32).
Ashmore Group plc Company Profile
Ashmore Group plc is a United Kingdom-based company, which operates as a specialist emerging markets asset manager. The Company offers a range of investment themes, such as external debt, local currency, corporate debt, blended debt, equities, alternatives, multi-strategy and overlay/liquidity. Its geographical segments include United Kingdom, United States and Others.
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