Royal Mail (LON:RMG) was upgraded by HSBC to a “buy” rating in a research note issued to investors on Monday, February 4th. The brokerage presently has a GBX 300 ($3.92) price objective on the stock, down from their prior price objective of GBX 347 ($4.53). HSBC’s price target would suggest a potential upside of 5.93% from the company’s previous close.
Other analysts have also recently issued reports about the company. JPMorgan Chase & Co. lowered their price target on Royal Mail from GBX 341 ($4.46) to GBX 285 ($3.72) and set a “neutral” rating on the stock in a research report on Monday, November 19th. UBS Group reiterated a “neutral” rating and issued a GBX 354 ($4.63) price target (down from GBX 528 ($6.90)) on shares of Royal Mail in a research report on Monday, October 8th. Goldman Sachs Group lowered Royal Mail to a “neutral” rating and reduced their price objective for the stock from GBX 380 ($4.97) to GBX 360 ($4.70) in a research note on Monday, January 21st. Barclays reduced their price objective on Royal Mail from GBX 605 ($7.91) to GBX 410 ($5.36) and set an “overweight” rating on the stock in a research note on Wednesday, October 10th. Finally, Royal Bank of Canada raised Royal Mail to a “sector performer” rating and set a GBX 500 ($6.53) price objective on the stock in a research note on Thursday, November 22nd. Seven equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the stock. The company has an average rating of “Hold” and an average target price of GBX 330.08 ($4.31).
LON:RMG traded up GBX 0.40 ($0.01) during trading hours on Monday, reaching GBX 283.20 ($3.70). The company had a trading volume of 3,245,160 shares, compared to its average volume of 5,850,000. Royal Mail has a one year low of GBX 367.80 ($4.81) and a one year high of GBX 575 ($7.51).
In other news, insider Rico Back purchased 150,000 shares of the business’s stock in a transaction dated Tuesday, December 11th. The shares were acquired at an average price of GBX 290 ($3.79) per share, with a total value of £435,000 ($568,404.55). Insiders have bought 300,035 shares of company stock worth $82,659,765 in the last ninety days.
About Royal Mail
Royal Mail plc, together with its subsidiaries, operates as an universal postal service provider in the United Kingdom, the United States, and other European countries. It offers parcels and letter delivery services under the Royal Mail and Parcelforce Worldwide brands. The company also provides services for the collection, sorting, and delivery of parcels and letters; and designs and produces stamps and philatelic items, as well as offers media and marketing mail services.
Further Reading: Cost of Equity For A Business, Investors
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