Morgan Stanley Reaffirms “Buy” Rating for Credit Suisse Group (CS)

Credit Suisse Group (NYSE:CS)‘s stock had its “buy” rating reaffirmed by analysts at Morgan Stanley in a research note issued to investors on Tuesday.

Several other equities analysts also recently weighed in on CS. Zacks Investment Research upgraded shares of Credit Suisse Group from a “hold” rating to a “buy” rating and set a $20.00 target price for the company in a report on Wednesday, January 10th. Barclays assumed coverage on shares of Credit Suisse Group in a report on Tuesday, January 16th. They set an “underweight” rating for the company. Citigroup restated a “buy” rating on shares of Credit Suisse Group in a report on Friday, December 1st. Macquarie upgraded shares of Credit Suisse Group from an “underperform” rating to a “neutral” rating in a report on Wednesday, November 15th. Finally, Societe Generale downgraded shares of Credit Suisse Group from a “buy” rating to a “hold” rating in a report on Tuesday, January 9th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and ten have issued a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $22.00.

Credit Suisse Group (NYSE CS) traded up $0.06 during trading hours on Tuesday, reaching $17.68. 2,627,772 shares of the company’s stock traded hands, compared to its average volume of 3,830,186. The company has a debt-to-equity ratio of 4.09, a current ratio of 1.41 and a quick ratio of 1.41. Credit Suisse Group has a 52-week low of $13.28 and a 52-week high of $19.98. The stock has a market cap of $44,980.00, a P/E ratio of -23.26 and a beta of 1.40.

Several hedge funds and other institutional investors have recently modified their holdings of CS. Earnest Partners LLC grew its holdings in shares of Credit Suisse Group by 6.3% during the third quarter. Earnest Partners LLC now owns 7,588,346 shares of the financial services provider’s stock worth $119,896,000 after buying an additional 451,238 shares in the last quarter. Tocqueville Asset Management L.P. grew its holdings in shares of Credit Suisse Group by 22.8% during the third quarter. Tocqueville Asset Management L.P. now owns 1,423,532 shares of the financial services provider’s stock worth $22,492,000 after buying an additional 264,053 shares in the last quarter. Parametric Portfolio Associates LLC grew its holdings in shares of Credit Suisse Group by 14.1% during the third quarter. Parametric Portfolio Associates LLC now owns 2,057,652 shares of the financial services provider’s stock worth $32,511,000 after buying an additional 254,174 shares in the last quarter. Ascend Capital LLC purchased a new stake in shares of Credit Suisse Group during the fourth quarter worth about $4,200,000. Finally, Crossmark Global Holdings Inc. purchased a new stake in shares of Credit Suisse Group during the third quarter worth about $3,690,000. Institutional investors and hedge funds own 2.81% of the company’s stock.

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Credit Suisse Group Company Profile

Credit Suisse Group AG (Credit Suisse) is a financial services company. The Company’s segments include Swiss Universal Bank, International Wealth Management, Asia Pacific, Global Markets, Investment Banking & Capital Markets, Strategic Resolution Unit and Corporate Center. It offers a range of private banking and wealth management solutions to its clients in its Swiss Universal Bank, International Wealth Management and Asia Pacific divisions.

Analyst Recommendations for Credit Suisse Group (NYSE:CS)

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