Credit Suisse Group AG Initiates Coverage on RBS (RBS)
Equities researchers at Credit Suisse Group AG started coverage on shares of RBS (LON:RBS) in a report issued on Tuesday. The brokerage set an “underperform” rating and a GBX 180 ($2.23) price target on the financial services provider’s stock. Credit Suisse Group AG’s price target indicates a potential downside of 7.36% from the company’s current price.
RBS has been the subject of several other research reports. Goldman Sachs Group Inc. reissued a “buy” rating and issued a GBX 235 ($2.92) price target on shares of RBS in a research note on Friday, August 5th. Deutsche Bank AG reissued a “sell” rating and issued a GBX 172 ($2.13) price target on shares of RBS in a research note on Thursday, November 24th. Barclays PLC reissued an “underweight” rating on shares of RBS in a research note on Monday, August 8th. Societe Generale decreased their price target on RBS from GBX 200 ($2.48) to GBX 170 ($2.11) and set a “sell” rating for the company in a research note on Monday, August 8th. Finally, Investec cut RBS to a “sell” rating and decreased their price target for the stock from GBX 205 ($2.54) to GBX 200 ($2.48) in a research note on Monday, September 12th. Eleven analysts have rated the stock with a sell rating, eight have issued a hold rating and four have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of GBX 220.76 ($2.74).
Shares of RBS (LON:RBS) opened at 195.10 on Tuesday. RBS has a 52-week low of GBX 148.40 and a 52-week high of GBX 315.70. The stock’s market cap is GBX 22.93 billion. The company’s 50-day moving average price is GBX 192.16 and its 200-day moving average price is GBX 197.82.
In other news, insider Ross McEwan acquired 141,363 shares of RBS stock in a transaction on Tuesday, November 8th. The stock was bought at an average price of GBX 187 ($2.32) per share, for a total transaction of £264,348.81 ($327,935.50).
RBS Company Profile
The Royal Bank of Scotland Group plc (RBS) is a banking and financial services company. The Company provides financial products and services to personal, commercial, corporate and institutional customers, through its subsidiaries, The Royal Bank of Scotland and National Westminster Bank Plc (NatWest), as well as through other brands, including Ulster Bank and Coutts.
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