Ashmore Group Lowered to Hold at Berenberg Bank (ASHM)
Ashmore Group (LON:ASHM) was downgraded by equities research analysts at Berenberg Bank to a “hold” rating in a research note issued to investors on Friday, American Banking & Market News reports. They currently have a GBX 375 ($6.18) price target on the stock, down from their previous price target of GBX 470 ($7.74). Berenberg Bank’s target price would indicate a potential upside of 15.24% from the stock’s previous close.
Ashmore Group (LON:ASHM) traded down 2.25% during mid-day trading on Friday, hitting GBX 325.40. 2,471,318 shares of the company’s stock traded hands. Ashmore Group has a 52 week low of GBX 317.50 and a 52 week high of GBX 436.00. The stock’s 50-day moving average is GBX 377.1 and its 200-day moving average is GBX 378.8. The company’s market cap is £2.187 billion.
A number of other firms have also recently commented on ASHM. Analysts at BNP Paribas reiterated a “neutral” rating on shares of Ashmore Group in a research note to investors on Friday, January 24th. They now have a GBX 360 ($5.93) price target on the stock. Separately, analysts at Morgan Stanley cut their price target on shares of Ashmore Group from GBX 410 ($6.76) to GBX 365 ($6.01) in a research note to investors on Friday, January 24th. They now have an “equal weight” rating on the stock. Finally, analysts at Credit Suisse cut their price target on shares of Ashmore Group from GBX 410 ($6.76) to GBX 375 ($6.18) in a research note to investors on Monday, January 20th. They now have a “neutral” rating on the stock. One analyst has rated the stock with a sell rating, ten have given a hold rating and eight have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of GBX 403.49 ($6.65).
Ashmore Group plc (LON:ASHM) is engaged in providing investment management services.
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