Credit Suisse Group Lowers J Sainsbury plc (SBRY) Price Target to GBX 295
J Sainsbury plc (LON:SBRY) had its price objective cut by research analysts at Credit Suisse Group from GBX 320 ($4.21) to GBX 295 ($3.88) in a note issued to investors on Monday, October 2nd. The brokerage presently has an “outperform” rating on the grocer’s stock. Credit Suisse Group’s target price suggests a potential upside of 22.05% from the company’s current price.
A number of other brokerages have also issued reports on SBRY. Deutsche Bank AG reiterated a “hold” rating and set a GBX 300 ($3.94) target price on shares of J Sainsbury plc in a research report on Thursday, September 28th. Barclays PLC reiterated an “equal weight” rating and set a GBX 260 ($3.42) target price on shares of J Sainsbury plc in a research report on Thursday, June 15th. J P Morgan Chase & Co reiterated an “underweight” rating and set a GBX 200 ($2.63) target price on shares of J Sainsbury plc in a research report on Wednesday, July 5th. Citigroup Inc. reiterated a “buy” rating and set a GBX 305 ($4.01) target price on shares of J Sainsbury plc in a research report on Tuesday, June 20th. Finally, HSBC Holdings plc reissued a “reduce” rating and issued a GBX 200 ($2.63) price objective on shares of J Sainsbury plc in a research note on Wednesday, July 26th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the company’s stock. J Sainsbury plc presently has a consensus rating of “Hold” and an average target price of GBX 266.93 ($3.51).
J Sainsbury plc (LON:SBRY) traded up 0.71% during midday trading on Monday, hitting GBX 241.70. 5,281,048 shares of the stock traded hands. J Sainsbury plc has a 12 month low of GBX 224.10 and a 12 month high of GBX 283.60. The company’s 50 day moving average price is GBX 238.11 and its 200 day moving average price is GBX 253.45. The firm’s market cap is GBX 5.28 billion.
About J Sainsbury plc
J Sainsbury plc is engaged in grocery-related retailing and retail banking. The Company’s segments include Retailing; Financial services, and Property investments. The Retailing segment is engaged in the operation of supermarkets and convenience. The Financial services segment includes the operations of Sainsbury’s Bank plc (Sainsbury’s Bank).
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