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

Berenberg Bank reaffirmed their buy rating on shares of Conduit (LON:CRE) in a report issued on Wednesday,Digital Look reports. They currently have a GBX 700 ($8.71) target price on the stock.

Conduit Stock Down 2.2 %

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

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.