Chemring Group (CHG) Coverage Initiated at Berenberg Bank

Berenberg Bank initiated coverage on shares of Chemring Group (LON:CHG) in a research note issued to investors on Wednesday. The firm set a “buy” rating and a GBX 211 ($2.86) price target on the stock. Berenberg Bank’s price target would indicate a potential upside of 15.93% from the stock’s previous close.

Other analysts have also recently issued research reports about the company. Peel Hunt reiterated an “add” rating and set a GBX 185 ($2.51) price objective on shares of Chemring Group in a research report on Tuesday, November 14th. JPMorgan Chase & Co. reduced their price objective on Chemring Group from GBX 210 ($2.85) to GBX 205 ($2.78) and set a “neutral” rating for the company in a research report on Friday, January 5th. Finally, Liberum Capital reissued a “buy” rating and set a GBX 225 ($3.05) price target on shares of Chemring Group in a report on Tuesday, November 14th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Chemring Group has an average rating of “Buy” and an average price target of GBX 207.43 ($2.81).

Chemring Group (LON:CHG) remained flat at $GBX 182 ($2.47) during trading on Wednesday. 130,959 shares of the company’s stock were exchanged, compared to its average volume of 158,275. The company has a market cap of $508.51 and a PE ratio of 3,640.00. Chemring Group has a 52-week low of GBX 162 ($2.20) and a 52-week high of GBX 208 ($2.82).

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