Close Brothers Group (LON:CBG) Upgraded to “Outperform” by Royal Bank of Canada

Close Brothers Group (LON:CBG) was upgraded by investment analysts at Royal Bank of Canada to an “outperform” rating in a note issued to investors on Wednesday, ThisIsMoney.Co.Uk reports. The firm currently has a GBX 1,400 ($17.23) target price on the stock, up from their previous target price of GBX 1,150 ($14.15). Royal Bank of Canada’s price objective would indicate a potential upside of 26.70% from the stock’s previous close.

Several other equities analysts have also recently issued reports on the stock. JPMorgan Chase & Co. lowered their price objective on shares of Close Brothers Group from GBX 1,550 ($19.07) to GBX 1,170 ($14.40) and set a “neutral” rating on the stock in a research note on Friday, April 24th. UBS Group restated a “neutral” rating and issued a GBX 1,230 ($15.14) price target (down previously from GBX 1,240 ($15.26)) on shares of Close Brothers Group in a research report on Wednesday, June 3rd. Shore Capital reiterated a “hold” rating on shares of Close Brothers Group in a research report on Monday, June 22nd. Jefferies Financial Group lowered Close Brothers Group to an “underperform” rating and reduced their price objective for the stock from GBX 1,410 ($17.35) to GBX 800 ($9.84) in a research note on Tuesday, April 28th. Finally, Berenberg Bank cut their target price on Close Brothers Group from GBX 1,410 ($17.35) to GBX 1,170 ($14.40) and set a “hold” rating on the stock in a research report on Wednesday, April 8th. Four research analysts have rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of GBX 1,273.90 ($15.68).

Shares of Close Brothers Group stock opened at GBX 1,105 ($13.60) on Wednesday. Close Brothers Group has a 52 week low of GBX 849 ($10.45) and a 52 week high of GBX 1,663 ($20.47). The stock has a market cap of $1.69 billion and a PE ratio of 8.66. The company’s 50-day moving average price is GBX 1,095.44 and its two-hundred day moving average price is GBX 1,260.22.

Close Brothers Group Company Profile

Close Brothers Group plc, a merchant banking company, provides financial services to small businesses and individuals in the United Kingdom. It operates through five segments: Commercial, Retail, Property, Securities, and Asset Management. The company offers various deposit products, including fixed term deposits and notice accounts.

See Also: What Is An Exchange-Traded Fund (ETF)?

Analyst Recommendations for Close Brothers Group (LON:CBG)

Receive News & Ratings for Close Brothers Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Close Brothers Group and related companies with MarketBeat.com's FREE daily email newsletter.