Inchcape Receives “Buy” Rating from Deutsche Bank (INCH)
Inchcape (LON:INCH)‘s stock had its “buy” rating reaffirmed by research analysts at Deutsche Bank in a report released on Thursday, American Banking News.com reports. They currently have a GBX 690 ($11.16) price target on the stock. Deutsche Bank’s price target points to a potential upside of 7.06% from the stock’s previous close.
Several other analysts have also recently commented on the stock. Analysts at Nomura reiterated a “neutral” rating on shares of Inchcape in a research note to investors on Friday, October 18th. They now have a GBX 600 ($9.70) price target on the stock. Separately, analysts at BNP Paribas reiterated an “outperform” rating on shares of Inchcape in a research note to investors on Wednesday, September 25th. They now have a GBX 700 ($11.32) price target on the stock. Finally, analysts at Bank of America Corp. reiterated a “buy” rating on shares of Inchcape in a research note to investors on Monday, September 23rd. They now have a GBX 710 ($11.48) price target on the stock. Five investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Inchcape presently has a consensus rating of “Buy” and a consensus price target of GBX 634.17 ($10.25).
Inchcape (LON:INCH) opened at 640.00 on Thursday. Inchcape has a 52-week low of GBX 382.30 and a 52-week high of GBX 655.50. The stock’s 50-day moving average is GBX 612.4 and its 200-day moving average is GBX 560.8. The company’s market cap is £2.974 billion.
Inchcape plc is an automotive retailer and distributor. As December 31, 2011, the Company operated in 26 markets, of which it operated as distributor in 22 of these, with retail only operations in the United Kingdom, Poland, Russia and China.
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