Conduit (LON:CRE) Shares Cross Below 200-Day Moving Average – What’s Next?

Conduit Holdings Limited (LON:CRE) passed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 344.19 and traded as low as GBX 324.50. Conduit shares last traded at GBX 325, with a volume of 2,247,387 shares changing hands.

Analysts Set New Price Targets

Several research firms recently weighed in on CRE. Peel Hunt restated a “buy” rating and set a GBX 540 price target on shares of Conduit in a report on Wednesday, November 5th. Royal Bank Of Canada increased their target price on shares of Conduit from GBX 300 to GBX 360 and gave the company a “sector perform” rating in a research note on Tuesday, October 14th. Berenberg Bank restated a “buy” rating and issued a GBX 700 target price on shares of Conduit in a report on Wednesday, October 29th. Finally, Jefferies Financial Group cut their price target on shares of Conduit from GBX 585 to GBX 374 and set a “buy” rating on the stock in a report on Wednesday, November 12th. Three equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Conduit currently has an average rating of “Moderate Buy” and an average target price of GBX 493.50.

Conduit Trading Up 1.9%

The company’s 50 day moving average is GBX 335.94 and its 200 day moving average is GBX 344.07. The company has a market cap of £514.83 million, a PE ratio of 41.13 and a beta of 0.52.

Conduit Company Profile

Conduit Re is a Bermuda-based multi-line reinsurance business with global reach. 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.