Berenberg Bank Reaffirms “Buy” Rating for Phoenix Group (LON:PHNX)

Phoenix Group (LON:PHNX)‘s stock had its “buy” rating restated by equities research analysts at Berenberg Bank in a research report issued to clients and investors on Monday,Digital Look reports. They presently have a GBX 650 ($8.20) price target on the stock. Berenberg Bank’s price objective indicates a potential upside of 27.83% from the stock’s previous close.

Phoenix Group Price Performance

Shares of LON:PHNX traded up GBX 4 ($0.05) during trading on Monday, hitting GBX 508.50 ($6.42). 1,719,664 shares of the company’s stock were exchanged, compared to its average volume of 7,728,124. The business’s 50-day simple moving average is GBX 507.71 and its 200 day simple moving average is GBX 523.29. Phoenix Group has a 52-week low of GBX 475 ($5.99) and a 52-week high of GBX 581.22 ($7.33). The company has a market cap of £5.08 billion, a price-to-earnings ratio of -9.75, a PEG ratio of 1.95 and a beta of 0.73. The company has a debt-to-equity ratio of 160.32, a current ratio of 3.30 and a quick ratio of 0.12.

Phoenix Group Company Profile

Phoenix is the UK’s largest long-term savings and retirement business with c. £300 billion of assets under administration and c. 12 million customers.
We are a constituent of the FTSE 100 with c. 7,800 colleagues and offer a broad range of products to support people across all stages of the savings life cycle.
We are a growing and sustainable business with a clear purpose – helping people secure a life of possibilities.