HSBC Lowers Royal Mail (RMG) to Hold
HSBC lowered shares of Royal Mail (LON:RMG) to a hold rating in a research note released on Tuesday morning. They currently have GBX 379 ($4.95) target price on the stock, down from their prior target price of GBX 552 ($7.21).
Several other analysts have also issued reports on the stock. Jefferies Financial Group boosted their target price on shares of Royal Mail from GBX 300 ($3.92) to GBX 400 ($5.23) and gave the company an underperform rating in a research report on Tuesday, June 19th. Royal Bank of Canada upgraded shares of Royal Mail to a sector performer rating and set a GBX 500 ($6.53) target price for the company in a research report on Tuesday, June 26th. Liberum Capital restated a sell rating on shares of Royal Mail in a research report on Tuesday, July 17th. Credit Suisse Group restated an underperform rating on shares of Royal Mail in a research report on Thursday, August 23rd. Finally, Citigroup restated a sell rating and set a GBX 300 ($3.92) target price (down from GBX 485 ($6.34)) on shares of Royal Mail in a research report on Tuesday, October 2nd. Nine analysts have rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company’s stock. Royal Mail has an average rating of Hold and an average price target of GBX 384.93 ($5.03).
Shares of RMG stock opened at GBX 340.60 ($4.45) on Tuesday. Royal Mail has a 52 week low of GBX 367.80 ($4.81) and a 52 week high of GBX 575 ($7.51).
Royal Mail plc, together with its subsidiaries, operates as an universal postal service provider in the United Kingdom, the United States, and other European countries. It offers parcels and letter delivery services under the Royal Mail and Parcelforce Worldwide brands. The company also provides services for the collection, sorting, and delivery of parcels and letters; and designs and produces stamps and philatelic items, as well as offers media and marketing mail services.
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