Burford Capital (LON:BUR) Downgraded by Berenberg Bank to Hold
Berenberg Bank cut shares of Burford Capital (LON:BUR) to a hold rating in a report released on Wednesday morning, Stock Target Advisor reports. Berenberg Bank currently has GBX 810 ($10.58) target price on the stock, down from their previous target price of GBX 2,070 ($27.05).
Other analysts have also recently issued research reports about the stock. Peel Hunt restated a buy rating on shares of Burford Capital in a research report on Thursday, October 31st. Liberum Capital restated a buy rating and set a GBX 2,600 ($33.97) price objective on shares of Burford Capital in a research report on Monday, September 23rd. Peel Hunt restated a buy rating and set a GBX 1,164 ($15.21) price objective on shares of Burford Capital in a research report on Tuesday, October 1st. Jefferies Financial Group restated a buy rating and set a GBX 2,400 ($31.36) price objective on shares of Burford Capital in a research report on Thursday, August 15th. Finally, Numis Securities restated a buy rating on shares of Burford Capital in a research report on Monday, September 30th. One research analyst has rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the company’s stock. The company currently has an average rating of Buy and a consensus price target of GBX 1,572.57 ($20.55).
Shares of Burford Capital stock traded down GBX 21.50 ($0.28) on Wednesday, hitting GBX 791.50 ($10.34). 956,969 shares of the company traded hands, compared to its average volume of 590,227. The firm’s 50-day simple moving average is GBX 841.61 and its 200 day simple moving average is GBX 1,183.76. The company has a current ratio of 4.79, a quick ratio of 4.78 and a debt-to-equity ratio of 41.33. The company has a market cap of $1.73 billion and a P/E ratio of 4.55. Burford Capital has a 12-month low of GBX 380.20 ($4.97) and a 12-month high of GBX 2,045 ($26.72).
Burford Capital Limited is a global finance company focused on law. The Company provides investment capital, investment management, financing and risk solutions with a focus on the litigation and arbitration sector. The Company’s segments include provision of litigation investment, provision of litigation insurance, exploration of new initiatives related to application of capital to the litigation and arbitration sector until such time as those initiatives mature into full-fledged independent segments and investment management activities.
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