Numis Securities Ltd Upgrades Tate & Lyle to Add (TATE)
Tate & Lyle (LON:TATE) was upgraded by investment analysts at Numis Securities Ltd to an “add” rating in a note issued to investors on Tuesday, American Banking News.com reports. The firm currently has a GBX 858 ($14.10) target price on the stock, down from their previous target price of GBX 863 ($14.18). Numis Securities Ltd’s target price would indicate a potential upside of 11.07% from the company’s current price.
Several other analysts have also recently commented on the stock. Analysts at Deutsche Bank reiterated a “buy” rating on shares of Tate & Lyle in a research note to investors on Tuesday. They now have a GBX 1,030 ($16.93) price target on the stock. Separately, analysts at Citigroup Inc. reiterated a “buy” rating on shares of Tate & Lyle in a research note to investors on Wednesday, January 15th. They now have a GBX 900 ($14.79) price target on the stock. Finally, analysts at BNP Paribas reiterated a “neutral” rating on shares of Tate & Lyle in a research note to investors on Wednesday, January 15th. They now have a GBX 820 ($13.48) price target on the stock. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and nine have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of GBX 857.87 ($14.10).
Shares of Tate & Lyle (LON:TATE) traded up 2.39% during mid-day trading on Tuesday, hitting GBX 772.50. 1,946,077 shares of the company’s stock traded hands. Tate & Lyle has a one year low of GBX 730.50 and a one year high of GBX 889.5001. The stock has a 50-day moving average of GBX 783.8 and a 200-day moving average of GBX 791.5. The company’s market cap is £3.587 billion.
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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