Tate & Lyle PLC (TATE) Price Target Lowered to GBX 560 at BNP Paribas
Tate & Lyle PLC (LON:TATE) had its price objective decreased by investment analysts at BNP Paribas from GBX 580 ($8.39) to GBX 560 ($8.10) in a research report issued to clients and investors on Friday. The brokerage presently has a “neutral” rating on the stock. BNP Paribas’ target price indicates a potential downside of 10.26% from the company’s previous close.
A number of other research firms have also issued reports on TATE. JPMorgan Chase & Co. reissued a “neutral” rating and issued a GBX 650 ($9.41) target price on shares of Tate & Lyle PLC in a report on Wednesday, February 3rd. Numis Securities Ltd upped their price objective on Tate & Lyle PLC from GBX 641 ($9.28) to GBX 670 ($9.69) and gave the stock a “hold” rating in a report on Monday, February 1st. Deutsche Bank reaffirmed a “buy” rating and set a GBX 800 ($11.58) price objective on shares of Tate & Lyle PLC in a report on Monday, February 1st. Credit Suisse reaffirmed a “neutral” rating and set a GBX 585 ($8.46) price objective on shares of Tate & Lyle PLC in a report on Thursday. Finally, Shore Capital reaffirmed a “hold” rating on shares of Tate & Lyle PLC in a report on Thursday. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of GBX 651.08 ($9.42).
Shares of 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 52-week low of GBX 492.20 and a 52-week high of GBX 627.50. The stock has a 50 day moving average of GBX 600.57 and a 200 day moving average of GBX 589.56.
The business also recently disclosed a dividend, which will be paid on Friday, July 29th. Stockholders of record on Thursday, June 30th will be given a GBX 19.80 ($0.29) dividend. The ex-dividend date of this dividend is Thursday, June 30th. This represents a dividend yield of 3.17%. This is a positive change from Tate & Lyle PLC’s previous dividend of $8.20.
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.