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

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

Conduit Price Performance

LON:CRE traded down GBX 10 ($0.12) on Wednesday, reaching GBX 443.50 ($5.52). The stock had a trading volume of 1,246,747 shares, compared to its average volume of 475,991. The company has a quick ratio of 1.19, a current ratio of 0.55 and a debt-to-equity ratio of 0.18. The company has a market capitalization of £696.21 million, a P/E ratio of 439.11 and a beta of 0.52. Conduit has a 1-year low of GBX 441 ($5.49) and a 1-year high of GBX 549.74 ($6.84). The stock has a fifty day moving average price of GBX 467.05 and a 200-day moving average price 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.