Ashmore Group Price Target Cut to GBX 410 (ASHM)
Equities research analysts at Morgan Stanley reduced their target price on shares of Ashmore Group (LON:ASHM) from GBX 420 ($6.57) to GBX 410 ($6.41) in a research note issued to investors on Thursday, American Banking & Market News reports. The firm currently has an “equal weight” rating on the stock. Morgan Stanley’s price target points to a potential upside of 8.21% from the company’s current price.
A number of other firms have also recently commented on ASHM. Analysts at Numis Securities Ltd downgraded shares of Ashmore Group (LON:ASHM) from an “add” rating to a “hold” rating in a research note to investors on Wednesday. They now have a GBX 385 ($6.02) price target on the stock, down previously from GBX 405 ($6.33). Separately, analysts at Bank of America Corp. raised their price target on shares of Ashmore Group (LON:ASHM) from GBX 405 ($6.33) to GBX 430 ($6.72) in a research note to investors on Wednesday. They now have a “buy” rating on the stock. Finally, analysts at JPMorgan Chase & Co. cut their price target on shares of Ashmore Group (LON:ASHM) from GBX 377 ($5.89) to GBX 368 ($5.75) in a research note to investors on Wednesday. They now have a “neutral” rating on the stock.
One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and six have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of GBX 397.44 ($6.21).
Ashmore Group (LON:ASHM) traded down 2.09% during mid-day trading on Thursday, hitting GBX 378.90. 928,467 shares of the company’s stock traded hands. Ashmore Group has a 52-week low of GBX 319.30 and a 52-week high of GBX 436.00. The stock’s 50-day moving average is GBX 358.8 and its 200-day moving average is GBX 370.5. The company’s market cap is £2.560 billion.
Ashmore Group plc (LON:ASHM) is engaged in providing investment management services.
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