Berenberg Bank Reiterates “Buy” Rating for Conduit (LON:CRE)

Conduit (LON:CRE)‘s stock had its “buy” rating reaffirmed by investment analysts at Berenberg Bank in a research note issued on Wednesday, MarketBeat reports. They presently have a GBX 700 ($8.80) price target on the stock. Berenberg Bank’s price objective suggests a potential upside of 57.84% from the stock’s previous close.

Conduit Stock Down 2.2 %

CRE stock opened at GBX 443.50 ($5.57) on Wednesday. Conduit has a 12-month low of GBX 441 ($5.54) and a 12-month high of GBX 549.74 ($6.91). The company has a market cap of £891.65 million, a price-to-earnings ratio of 4.18 and a beta of 0.52. The company has a 50 day moving average of GBX 467.05 and a two-hundred day moving average of GBX 499.36.

Conduit Company Profile

Conduit Re is a pure play global reinsurance business based in Bermuda. 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.