Independent Research set a €4.50 ($5.23) target price on Ceconomy (ETR:CEC1) in a research note issued to investors on Tuesday morning. The brokerage currently has a sell rating on the stock.
Other research analysts also recently issued research reports about the company. Goldman Sachs Group set a €9.40 ($10.93) price objective on Ceconomy and gave the company a neutral rating in a research note on Tuesday, August 14th. Baader Bank set a €10.00 ($11.63) price objective on Ceconomy and gave the company a buy rating in a research note on Tuesday, August 14th. Commerzbank set a €7.50 ($8.72) price objective on Ceconomy and gave the company a sell rating in a research note on Thursday, July 26th. Kepler Capital Markets set a €6.80 ($7.91) price objective on Ceconomy and gave the company a neutral rating in a research note on Thursday, August 23rd. Finally, Morgan Stanley set a €7.00 ($8.14) price objective on Ceconomy and gave the company a neutral rating in a research note on Wednesday, August 15th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the stock. The stock has a consensus rating of Hold and an average target price of €6.56 ($7.63).
Shares of ETR CEC1 opened at €5.50 ($6.40) on Tuesday. Ceconomy has a 12 month low of €8.88 ($10.33) and a 12 month high of €29.50 ($34.30).
Ceconomy Company Profile
Ceconomy AG engages in the consumer electronics retail business. It operates multichannel consumer electronics stores under the MediaMarkt and Saturn brand names; redcoon.de, an online electronics store; and JUKE!, a music streaming service that comprise songs, films, games, and e-books. The company also operates iBOOD, a live-shopping portal; Flip4New!, a purchasing service for consumer electronics, which allow customers to sell used electronic articles; and LocaFox, a local commerce platform that connects local retailers with the multichannel world.
Further Reading: Can individual investors take part in an IPO?
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