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

Conduit (LON:CRE)‘s stock had its “buy” rating reaffirmed by research analysts at Berenberg Bank in a research note issued on Wednesday,Digital Look reports. They currently have a GBX 700 ($8.71) target price on the stock. Berenberg Bank’s target price suggests a potential upside of 57.84% from the stock’s previous close.

Conduit Stock Down 2.2 %

CRE stock traded down GBX 10 ($0.12) during trading hours on Wednesday, hitting GBX 443.50 ($5.52). The company’s stock had a trading volume of 1,246,747 shares, compared to its average volume of 475,991. The company has a market capitalization of £696.21 million, a PE ratio of 439.11 and a beta of 0.52. The stock has a 50 day moving average price of GBX 467.05 and a two-hundred day moving average price of GBX 499.36. Conduit has a 12 month low of GBX 441 ($5.49) and a 12 month high of GBX 549.74 ($6.84). The company has a quick ratio of 1.19, a current ratio of 0.55 and a debt-to-equity ratio of 0.18.

About Conduit

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.