Northgate Coverage Initiated at Berenberg Bank (NTG)
Research analysts at Berenberg Bank started coverage on shares of Northgate (LON:NTG) in a report released on Tuesday, ARN reports. The firm set a “buy” rating and a GBX 650 ($10.78) price target on the stock. Berenberg Bank’s target price indicates a potential upside of 22.30% from the company’s current price.
Shares of Northgate (LON:NTG) traded up 0.28% during mid-day trading on Tuesday, hitting GBX 531.50. 129,081 shares of the company’s stock traded hands. Northgate has a 52 week low of GBX 310.40 and a 52 week high of GBX 618.50. The stock’s 50-day moving average is GBX 563.9 and its 200-day moving average is GBX 501.0. The company’s market cap is £708.1 million.
Separately, analysts at Barclays downgraded shares of Northgate to an “equal weight” rating in a research note on Friday, March 14th. They now have a GBX 540 ($8.95) price target on the stock, up previously from GBX 449 ($7.44). One investment analyst has rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of GBX 432.22 ($7.17).
Northgate plc is an investment holding company. The Company is engaged in light commercial vehicle hire business in United Kingdom and Spain.
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