Close Brothers Group (CBG) Price Target Cut to GBX 1,500 by Analysts at Berenberg Bank

Close Brothers Group (LON:CBG) had its price target dropped by equities research analysts at Berenberg Bank from GBX 1,510 ($19.73) to GBX 1,500 ($19.60) in a research note issued to investors on Friday. The brokerage currently has a “hold” rating on the stock. Berenberg Bank’s target price indicates a potential downside of 0.27% from the company’s previous close.

Several other research analysts have also weighed in on CBG. Shore Capital reaffirmed a “hold” rating on shares of Close Brothers Group in a research report on Thursday, November 15th. Peel Hunt reaffirmed a “hold” rating on shares of Close Brothers Group in a research report on Friday, December 7th. UBS Group reaffirmed a “neutral” rating and issued a GBX 1,565 ($20.45) target price (down from GBX 1,570 ($20.51)) on shares of Close Brothers Group in a research report on Wednesday. Numis Securities reiterated a “hold” rating and set a GBX 1,654 ($21.61) price target on shares of Close Brothers Group in a research note on Tuesday. Finally, JPMorgan Chase & Co. decreased their price target on Close Brothers Group from GBX 1,800 ($23.52) to GBX 1,700 ($22.21) and set an “overweight” rating for the company in a research note on Monday, January 21st. Six analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Close Brothers Group presently has a consensus rating of “Hold” and a consensus target price of GBX 1,608.63 ($21.02).

LON:CBG opened at GBX 1,504 ($19.65) on Friday. The firm has a market cap of $2.25 billion and a P/E ratio of 11.24. Close Brothers Group has a 1-year low of GBX 1,387 ($18.12) and a 1-year high of GBX 1,682 ($21.98).

About Close Brothers Group

Close Brothers Group plc, a merchant banking company, provides financial services to small businesses and individuals in the United Kingdom. It operates through five segments: Commercial, Retail, Property, Securities, and Asset Management. The company offers various deposit products, including fixed term deposits and notice accounts.

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