Goldman Sachs Downgrades Serco Group plc to Sell (SRP)
Serco Group plc (LON:SRP) was downgraded by research analysts at Goldman Sachs to a “sell” rating in a report released on Wednesday, Stock Ratings Network reports. They currently have a GBX 255 ($4.28) price objective on the stock, down from their previous price objective of GBX 398 ($6.69). Goldman Sachs’ target price would indicate a potential downside of 27.84% from the stock’s previous close.
Shares of Serco Group plc (LON:SRP) opened at 353.40 on Wednesday. Serco Group plc has a one year low of GBX 313.20 and a one year high of GBX 689.45. The stock’s 50-day moving average is GBX 411.1 and its 200-day moving average is GBX 457.7. The company’s market cap is £1.723 billion.
A number of other analysts have also recently weighed in on SRP. Analysts at Deutsche Bank reiterated a “hold” rating on shares of Serco Group plc in a research note on Tuesday, April 29th. They now have a GBX 420 ($7.06) price target on the stock. Separately, analysts at Cantor Fitzgerald Europe reiterated a “sell” rating on shares of Serco Group plc in a research note on Tuesday, April 29th. Finally, analysts at Citigroup Inc. downgraded shares of Serco Group plc to a “neutral” rating in a research note on Tuesday, April 29th. They now have a GBX 410 ($6.89) price target on the stock, down previously from GBX 610 ($10.25). Eleven analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and one has assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of GBX 441.06 ($7.41).
Serco Group plc is a United-Kingdom based international service company. The Company provides end-to-end business process outsourcing (LON:SRP) services to public and private sector customers.
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