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Royal Mail (RMG) Rating Increased to Buy at HSBC

13 Feb 2019, 17:52

https://www.fairfieldcurrent.com/news/2019/02/12/royal-mail-rmg-upgraded-to-buy-at-hsbc.html

Royal Mail (RMG) Rating Increased to Buy at HSBC

Posted by Lisa Matthews on Feb 12th, 2019

Royal Mail (LON:RMG) was upgraded by research analysts at HSBC to a “buy” rating in a research report issued on Monday, February 4th. The firm currently has a GBX 300 ($3.92) price objective on the stock, down from their previous price objective of GBX 347 ($4.53). HSBC’s price objective points to a potential upside of 10.25% from the company’s current price.

Several other analysts also recently weighed in on the stock. JPMorgan Chase & Co. dropped their target price on shares of 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 reissued a “neutral” rating and set a GBX 354 ($4.63) target price (down previously from GBX 528 ($6.90)) on shares of Royal Mail in a research report on Monday, October 8th. Goldman Sachs Group downgraded shares of Royal Mail to a “neutral” rating and dropped their target price for the stock from GBX 380 ($4.97) to GBX 360 ($4.70) in a research report on Monday, January 21st. Barclays dropped their target price on shares of Royal Mail from GBX 605 ($7.91) to GBX 410 ($5.36) and set an “overweight” rating on the stock in a research report on Wednesday, October 10th. Finally, Royal Bank of Canada raised shares of Royal Mail to a “sector performer” rating and set a GBX 500 ($6.53) target price on the stock in a research report on Thursday, November 22nd. Eight 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. Royal Mail currently has a consensus rating of “Hold” and an average price target of GBX 337.93 ($4.42).

Shares of Royal Mail stock opened at GBX 272.10 ($3.56) on Monday. Royal Mail has a 52-week low of GBX 367.80 ($4.81) and a 52-week high of GBX 575 ($7.51).

Royal Mail (LON:RMG) last issued its quarterly earnings data on Thursday, November 15th. The company reported GBX 13.60 ($0.18) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of GBX 16.60 ($0.22) by GBX (3) (($0.04)).

In other Royal Mail news, insider Rico Back acquired 150,000 shares of the company’s stock in a transaction dated Tuesday, December 11th. The shares were acquired at an average cost of GBX 290 ($3.79) per share, with a total value of £435,000 ($568,404.55). Insiders bought a total of 412,000 shares of company stock worth $118,266,000 over 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.

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