The Goldman Sachs Group Forecasts Strong Price Appreciation for Hiscox (LON:HSX) Stock

Hiscox (LON:HSX) had its price target increased by The Goldman Sachs Group from GBX 1,560 to GBX 1,713 in a report issued on Wednesday, Marketbeat.com reports. The brokerage currently has a “buy” rating on the stock. The Goldman Sachs Group’s price target suggests a potential upside of 13.90% from the company’s previous close.

A number of other analysts have also recently commented on HSX. JPMorgan Chase & Co. increased their price target on shares of Hiscox from GBX 1,400 to GBX 1,500 and gave the company an “overweight” rating in a research note on Thursday, November 6th. Jefferies Financial Group upgraded shares of Hiscox to a “buy” rating and cut their target price for the company from GBX 1,500 to GBX 1,068 in a research note on Wednesday, November 12th. Finally, Berenberg Bank reissued a “buy” rating and set a GBX 1,580 price target on shares of Hiscox in a research report on Thursday, November 6th. Five investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, Hiscox presently has a consensus rating of “Moderate Buy” and a consensus target price of GBX 1,453.50.

Hiscox Trading Up 1.2%

LON HSX opened at GBX 1,504 on Wednesday. The company has a market cap of £4.88 billion, a PE ratio of 8.82, a PEG ratio of -2.30 and a beta of 0.65. Hiscox has a 12 month low of GBX 1,030 and a 12 month high of GBX 1,537. The stock has a 50 day moving average of GBX 1,382.50 and a 200-day moving average of GBX 1,347.02.

About Hiscox

Hiscox Ltd, through its subsidiaries, provides insurance and reinsurance services in the United Kingdom, Europe, the United States, and internationally. The company operates through four segments: Hiscox Retail, Hiscox London Market, Hiscox Re & ILS, and Corporate Centre. It offers commercial insurance for small-and medium-sized businesses; and personal lines cover, including high-value household, fine art, and luxury motor, as well as artwork, antiques, classic cars, jewelry, collectables, and other assets through brokers, partners, and direct-to-consumers.