Royal Mail (RMG) Sets New 52-Week High After Analyst Upgrade

Royal Mail PLC (LON:RMG)’s share price hit a new 52-week high during mid-day trading on Wednesday after Credit Suisse Group raised their price target on the stock from GBX 339 to GBX 420. Credit Suisse Group currently has an underperform rating on the stock. Royal Mail traded as high as GBX 570 ($7.88) and last traded at GBX 563 ($7.78), with a volume of 5085840 shares traded. The stock had previously closed at GBX 563 ($7.78).

Several other equities research analysts have also weighed in on RMG. Liberum Capital reaffirmed a “sell” rating and issued a GBX 385 ($5.32) target price on shares of Royal Mail in a research report on Thursday, October 26th. Berenberg Bank started coverage on Royal Mail in a research report on Tuesday, October 31st. They issued a “hold” rating and a GBX 375 ($5.18) target price on the stock. JPMorgan Chase & Co. dropped their target price on Royal Mail from GBX 550 ($7.60) to GBX 535 ($7.39) and set an “overweight” rating on the stock in a research report on Thursday, November 2nd. Jefferies Group reaffirmed an “underperform” rating and issued a GBX 320 ($4.42) target price on shares of Royal Mail in a research report on Thursday, November 9th. Finally, HSBC reaffirmed a “buy” rating and issued a GBX 465 ($6.42) target price on shares of Royal Mail in a research report on Monday, November 20th. Five research analysts have rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of GBX 452.69 ($6.25).

The stock has a market capitalization of $5,630.00 and a price-to-earnings ratio of 1,563.89.

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Royal Mail Company Profile

Royal Mail plc provides postal services. The Company’s segments include UK Parcels, International & Letters (UKPIL), General Logistics Systems (GLS) and Other. UKPIL operates in the United Kingdom collecting and delivering parcels and letters through approximately two main networks, the Royal Mail Core Network and Parcelforce Worldwide.

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