Citigroup Inc. Boosts Tate & Lyle PLC (TATE) Price Target to GBX 680
Tate & Lyle PLC (LON:TATE) had its price target boosted by analysts at Citigroup Inc. from GBX 600 ($8.68) to GBX 680 ($9.84) in a research report issued to clients and investors on Friday. The brokerage currently has a “neutral” rating on the stock. Citigroup Inc.’s price target suggests a potential upside of 8.97% from the company’s current price.
Tate & Lyle PLC (LON:TATE) opened at 623.5000 on Friday. The stock’s market capitalization is GBX 2.89 billion. Tate & Lyle PLC has a 12-month low of GBX 492.20 and a 12-month high of GBX 627.50. The company’s 50-day moving average is GBX 600.57 and its 200 day moving average is GBX 589.56.
The company also recently disclosed a dividend, which will be paid on Friday, July 29th. Stockholders of record on Thursday, June 30th will be paid a dividend of GBX 19.80 ($0.29) per share. The ex-dividend date is Thursday, June 30th. This is an increase from Tate & Lyle PLC’s previous dividend of $8.20. This represents a dividend yield of 3.17%.
Several other research firms also recently issued reports on TATE. Jefferies Group upgraded shares of Tate & Lyle PLC to a “buy” rating and set a GBX 680 ($9.84) price objective on the stock in a report on Thursday, February 11th. Numis Securities Ltd upgraded shares of Tate & Lyle PLC to an “add” rating and set a GBX 598 ($8.65) price objective on the stock in a report on Monday, February 15th. BNP Paribas upped their price objective on shares of Tate & Lyle PLC from GBX 560 ($8.10) to GBX 580 ($8.39) and gave the company a “neutral” rating in a report on Wednesday, April 6th. Liberum Capital restated a “buy” rating and set a GBX 700 ($10.13) price objective on shares of Tate & Lyle PLC in a report on Tuesday. Finally, Canaccord Genuity restated a “buy” rating and set a GBX 685 ($9.91) price objective on shares of Tate & Lyle PLC in a report on Monday. One analyst has rated the stock with a sell rating, nine have given a hold rating and five have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of GBX 651.08 ($9.42).
Tate & Lyle PLC provides ingredients and solutions to the food, beverage and other industries. The Company operates through two business segments: Speciality Food Ingredients, which offers products, such as sweeteners, texturants, health and wellness, and food systems, and Bulk Ingredients segment, which offers products, such as liquid sweeteners, industrial starches, citric acid, bio-fuels and animal feed.