Tate & Lyle (LON:TATE) had its target price lowered by equities researchers at Deutsche Bank from GBX 725 ($10.02) to GBX 650 ($8.98) in a research note issued to investors on Monday, February 12th. The brokerage currently has a “hold” rating on the stock. Deutsche Bank’s target price points to a potential upside of 16.95% from the stock’s previous close.
A number of other brokerages have also issued reports on TATE. Liberum Capital reissued a “buy” rating and set a GBX 850 ($11.74) target price on shares of Tate & Lyle in a research note on Tuesday, December 19th. Credit Suisse Group reissued a “neutral” rating and set a GBX 710 ($9.81) target price on shares of Tate & Lyle in a research note on Friday, November 3rd. Shore Capital reissued a “hold” rating on shares of Tate & Lyle in a research note on Tuesday, January 16th. Shore Capital Group reaffirmed a “hold” rating on shares of Tate & Lyle in a research note on Thursday, November 2nd. Finally, Berenberg Bank reaffirmed a “hold” rating and issued a GBX 730 ($10.09) price objective on shares of Tate & Lyle in a research note on Thursday, November 2nd. Ten analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Tate & Lyle currently has a consensus rating of “Hold” and a consensus price target of GBX 731 ($10.10).
Tate & Lyle (LON:TATE) opened at GBX 555.80 ($7.68) on Monday. Tate & Lyle has a 52-week low of GBX 552.20 ($7.63) and a 52-week high of GBX 796.50 ($11.00). The firm has a market cap of $2,590.00 and a P/E ratio of 1,048.68.
In related news, insider Gerry M. Murphy acquired 10,000 shares of the company’s stock in a transaction dated Tuesday, February 13th. The shares were bought at an average price of GBX 571 ($7.89) per share, for a total transaction of £57,100 ($78,889.20).
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Tate & Lyle Company Profile
Tate & Lyle PLC is a provider of ingredients and solutions to the food, beverage and other industries. The Company’s segments include Speciality Food Ingredients and Bulk Ingredients. The Speciality Food Ingredients segment’s product categories include dairy, beverage, bakery and convenience. The Bulk Ingredients segment’s product lines include bulk sweeteners for food and beverage customers, and industrial starches for paper and construction industries.
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