Conduit’s (CRE) Buy Rating Reiterated at Berenberg Bank

Berenberg Bank reaffirmed their buy rating on shares of Conduit (LON:CRE) in a report released on Thursday morning, MarketBeat reports. They currently have a GBX 782 price objective on the stock.

Separately, Royal Bank Of Canada increased their price target on shares of Conduit from GBX 390 to GBX 450 and gave the company a “sector perform” rating in a report on Friday, May 15th. Three investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of GBX 536.50.

Conduit Price Performance

CRE opened at GBX 438.50 on Thursday. The company has a quick ratio of 1.19, a current ratio of 696.25 and a debt-to-equity ratio of 0.07. The stock has a market cap of £646.76 million, a price-to-earnings ratio of 5.93 and a beta of 0.59. Conduit has a twelve month low of GBX 271 and a twelve month high of GBX 484. The company’s 50-day moving average price is GBX 449.45 and its two-hundred day moving average price is GBX 425.49.

Conduit Company Profile

Conduit Re is a Bermuda-based multi-line reinsurance business with global reach. Conduit Reinsurance Limited is licensed by the Bermuda Monetary Authority as a Class 4 insurer. A.M. Best has assigned a Financial Strength Rating of A- (Excellent) and a Long-Term Issuer Credit Rating of a- (Excellent) to Conduit Reinsurance Limited. The outlook assigned to these ratings is stable.

Conduit Holdings Limited is the ultimate parent of Conduit Reinsurance Limited and is listed on the London Stock Exchange (ticker: CRE).