Conduit (LON:CRE) Receives Buy Rating from Berenberg Bank

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

Conduit Trading Down 2.2 %

Shares of CRE stock traded down GBX 10 ($0.12) on Wednesday, hitting GBX 443.50 ($5.52). 1,246,747 shares of the company’s stock traded hands, compared to its average volume of 475,991. The company’s fifty day simple moving average is GBX 467.05 and its 200 day simple moving average is GBX 499.36. Conduit has a one year low of GBX 441 ($5.49) and a one year high of GBX 549.74 ($6.84). The stock has a market capitalization 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 quick ratio of 1.19 and a current ratio of 0.55.

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.