Tate & Lyle Upgraded by Societe Generale to Buy (TATE)
Tate & Lyle (LON:TATE) was upgraded by Societe Generale from a “hold” rating to a “buy” rating in a research note issued on Monday, AnalystRatings.Net reports. The firm currently has a GBX 865 ($13.88) price objective on the stock, down from their previous price objective of GBX 900 ($14.44). Societe Generale’s target price indicates a potential upside of 16.11% from the stock’s previous close.
Shares of Tate & Lyle (LON:TATE) opened at 734.00 on Monday. Tate & Lyle has a 52-week low of GBX 679.50 and a 52-week high of GBX 889.5001. The stock has a 50-day moving average of GBX 808. and a 200-day moving average of GBX 832.4. The company’s market cap is £3.404 billion.
Other equities research analysts have also recently issued reports about the stock. Analysts at Numis Securities Ltd reiterated an “add” rating on shares of Tate & Lyle in a research note to investors on Monday. They now have a GBX 884 ($14.18) price target on the stock. Separately, analysts at Citigroup Inc. cut their price target on shares of Tate & Lyle from GBX 1,000 ($16.04) to GBX 900 ($14.44) in a research note to investors on Monday. They now have a “buy” rating on the stock. Finally, analysts at Beaufort Securities reiterated a “hold” rating on shares of Tate & Lyle in a research note to investors on Monday. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and ten have issued a buy rating to the stock. Tate & Lyle has a consensus rating of “Hold” and an average price target of GBX 869.27 ($13.95).
Tate & Lyle PLC is a provider of speciality food ingredients and solutions. The Company and its subsidiary and associated undertakings together with its joint ventures develops, manufactures and markets food and industrial ingredients made from renewable resources.
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