HSBC Lowers Royal Mail (RMG) to Hold

HSBC downgraded shares of Royal Mail (LON:RMG) to a hold rating in a research note released on Tuesday. HSBC currently has GBX 379 ($4.95) price target on the stock, down from their prior price target of GBX 552 ($7.21).

A number of other research firms have also weighed in on RMG. Jefferies Financial Group raised their price objective on shares of Royal Mail from GBX 300 ($3.92) to GBX 400 ($5.23) and gave the company an underperform rating in a research note on Tuesday, June 19th. Royal Bank of Canada upgraded shares of Royal Mail to a sector performer rating and set a GBX 500 ($6.53) price objective for the company in a research note on Tuesday, June 26th. Liberum Capital restated a sell rating on shares of Royal Mail in a research note on Tuesday, July 17th. Credit Suisse Group restated an underperform rating on shares of Royal Mail in a research note on Thursday, August 23rd. Finally, Deutsche Bank reduced their price objective on shares of Royal Mail from GBX 428 ($5.59) to GBX 300 ($3.92) and set a sell rating for the company in a research note on Tuesday, October 2nd. Nine equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company. The stock presently has an average rating of Hold and an average target price of GBX 384.93 ($5.03).

Shares of LON RMG opened at GBX 340.60 ($4.45) on Tuesday. Royal Mail has a 1 year low of GBX 367.80 ($4.81) and a 1 year high of GBX 575 ($7.51).

About Royal Mail

Royal Mail plc, together with its subsidiaries, operates as an universal postal service provider in the United Kingdom, the United States, and other European countries. It offers parcels and letter delivery services under the Royal Mail and Parcelforce Worldwide brands. The company also provides services for the collection, sorting, and delivery of parcels and letters; and designs and produces stamps and philatelic items, as well as offers media and marketing mail services.

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