Tate & Lyle PLC Downgraded to “Underperform” at Credit Suisse (TATE)
Tate & Lyle PLC (LON:TATE) was downgraded by investment analysts at Credit Suisse to an “underperform” rating in a note issued to investors on Friday. They currently have a GBX 650 ($10.94) price objective on the stock, down from their previous price objective of GBX 700 ($11.78). Credit Suisse’s target price points to a potential downside of 7.34% from the company’s current price.
Shares of Tate & Lyle PLC (LON:TATE) opened at 694.50 on Friday. Tate & Lyle PLC has a 52 week low of GBX 618.50 and a 52 week high of GBX 889.5001. The stock has a 50-day moving average of GBX 681.3 and a 200-day moving average of GBX 721.9. The company’s market cap is £3.225 billion.
The company also recently declared a dividend, which is scheduled for Friday, August 1st. Shareholders of record on Wednesday, June 25th will be given a dividend of GBX 19.80 ($0.33) per share. This represents a yield of 2.82%. The ex-dividend date of this dividend is Wednesday, June 25th.
A number of other firms have also recently commented on TATE. Analysts at Shore Capital reiterated a “hold” rating on shares of Tate & Lyle PLC in a research note on Thursday. They now have a GBX 368 ($6.19) price target on the stock. Separately, analysts at Numis Securities Ltd reiterated a “hold” rating on shares of Tate & Lyle PLC in a research note on Wednesday. They now have a GBX 693 ($11.66) price target on the stock. Finally, analysts at Deutsche Bank reiterated a “buy” rating on shares of Tate & Lyle PLC in a research note on Tuesday. They now have a GBX 900 ($15.15) price target on the stock. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have issued a buy rating to the company. Tate & Lyle PLC presently has an average rating of “Hold” and an average target price of GBX 747.88 ($12.59).
Tate & Lyle PLC is a global provider of ingredients and solutions to the food, beverage and other industries.
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