Tate & Lyle PLC’s (TATE) “Underperform” Rating Reaffirmed at BNP Paribas
Tate & Lyle PLC (LON:TATE)‘s stock had its “underperform” rating reissued by investment analysts at BNP Paribas in a research report issued on Monday. They currently have a GBX 590 ($7.29) target price on the stock. BNP Paribas’ target price suggests a potential downside of 24.07% from the stock’s previous close.
A number of other research firms have also commented on TATE. Berenberg Bank restated a “hold” rating and set a GBX 810 ($10.00) price objective on shares of Tate & Lyle PLC in a research note on Thursday, February 9th. Shore Capital restated a “hold” rating on shares of Tate & Lyle PLC in a research note on Thursday, February 9th. Liberum Capital raised their price objective on Tate & Lyle PLC from GBX 770 ($9.51) to GBX 810 ($10.00) and gave the stock a “buy” rating in a research note on Tuesday, February 14th. JPMorgan Chase & Co. raised their price objective on Tate & Lyle PLC from GBX 710 ($8.77) to GBX 730 ($9.02) and gave the stock a “neutral” rating in a research note on Friday, February 10th. Finally, Deutsche Bank AG restated a “buy” rating on shares of Tate & Lyle PLC in a research note on Friday, February 10th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and four have given a buy rating to the stock. Tate & Lyle PLC presently has an average rating of “Hold” and a consensus price target of GBX 774 ($9.56).
Tate & Lyle PLC (LON:TATE) traded up 0.58% during midday trading on Monday, hitting GBX 777.00. The stock had a trading volume of 895,303 shares. The company’s market capitalization is GBX 3.61 billion. The company’s 50-day moving average price is GBX 731.26 and its 200 day moving average price is GBX 720.97. Tate & Lyle PLC has a 52 week low of GBX 549.00 and a 52 week high of GBX 850.00.
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In other Tate & Lyle PLC news, insider Gerry M. Murphy bought 10,000 shares of Tate & Lyle PLC stock in a transaction on Friday, February 10th. The shares were purchased at an average price of GBX 717 ($8.86) per share, with a total value of £71,700 ($88,551.32).
Tate & Lyle PLC Company Profile
Tate & Lyle PLC is a provider of ingredients and solutions to the food, beverage and other industries. The Company’s segments include Speciality Food Ingredients and Bulk Ingredients. The Speciality Food Ingredients segment’s product categories include dairy, beverage, bakery and convenience. The Bulk Ingredients segment’s product lines include bulk sweeteners for food and beverage customers, and industrial starches for paper and construction industries.
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