Phoenix Group (LON:PHNX) Earns Hold Rating from Deutsche Bank
Phoenix Group (LON:PHNX)‘s stock had its “hold” rating reissued by analysts at Deutsche Bank in a research note issued to investors on Friday, August 24th. They presently have a GBX 700.50 ($9.12) target price on the stock, down from their prior target price of GBX 740 ($9.64). Deutsche Bank’s price objective would indicate a potential upside of 3.17% from the company’s previous close.
Several other research firms also recently weighed in on PHNX. Royal Bank of Canada raised Phoenix Group to a “top pick” rating and set a GBX 820 ($10.68) price objective on the stock in a report on Monday, July 9th. Barclays raised their target price on Phoenix Group from GBX 664 ($8.65) to GBX 667 ($8.69) and gave the stock an “underweight” rating in a research report on Wednesday, July 18th. Finally, Numis Securities raised Phoenix Group to an “add” rating and lowered their target price for the stock from GBX 838 ($10.92) to GBX 755 ($9.83) in a research report on Friday, July 13th. One research analyst has rated the stock with a sell rating, three have given a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of GBX 791.79 ($10.31).
LON:PHNX traded up GBX 1.50 ($0.02) on Friday, hitting GBX 679 ($8.84). The company’s stock had a trading volume of 1,089,688 shares, compared to its average volume of 1,360,000. Phoenix Group has a one year low of GBX 719 ($9.37) and a one year high of GBX 820 ($10.68).
About Phoenix Group
Phoenix Group Holdings, a closed life assurance fund consolidator, acquires and manages closed life and pension funds primarily in the United Kingdom. It also provides financing services. The company was formerly known as Pearl Group and changed its name to Phoenix Group Holdings in March 2010. Phoenix Group Holdings was founded in 1782 and is headquartered in London, the United Kingdom.
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