Morningstar Downgrades Bank of Queensland to Reduce (BOQ)
Bank of Queensland (ASX:BOQ) was downgraded by stock analysts at Morningstar from a “hold” rating to a “reduce” rating in a report issued on Sunday, ARN reports. They currently have a $12.25 price target on the stock, up from their previous price target of $11.93.
Bank of Queensland (ASX:BOQ) traded down 0.16% on Friday, hitting A$12.230. 485,419 shares of the company’s stock traded hands. Bank of Queensland has a one year low of A$7.510 and a one year high of A$12.760. The stock has a 50-day moving average of A$12.06 and a 200-day moving average of A$10.63. The company has a market cap of A$3.909 billion and a P/E ratio of 21.42.
A number of other analysts have also recently weighed in on BOQ. Analysts at Goldman Sachs Group Inc. reiterated a “neutral” rating on shares of Bank of Queensland in a research note to investors on Thursday, October 24th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of A$16.24 ($14.37).
Bank of Queensland Limited (ASX:BOQ) is an Australia-based bank engaged in the provision of financial services and insurance to the community.
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