Phoenix Group (LON:PHNX) Price Target Increased to GBX 640 by Analysts at Bank of America

Phoenix Group (LON:PHNX) had its price target raised by Bank of America from GBX 620 ($7.68) to GBX 640 ($7.93) in a research report issued to clients and investors on Monday, Digital Look reports. The firm currently has a “buy” rating on the stock. Bank of America‘s target price points to a potential upside of 19.68% from the company’s previous close.

A number of other analysts have also recently weighed in on PHNX. Barclays boosted their target price on shares of Phoenix Group from GBX 715 ($8.86) to GBX 718 ($8.89) and gave the stock an “overweight” rating in a research note on Thursday, September 7th. Berenberg Bank restated a “buy” rating and set a GBX 770 ($9.54) price objective on shares of Phoenix Group in a report on Thursday, September 14th. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of GBX 685.50 ($8.49).

Phoenix Group Stock Performance

PHNX stock traded up GBX 8.38 ($0.10) during mid-day trading on Monday, hitting GBX 534.78 ($6.62). 1,613,598 shares of the company were exchanged, compared to its average volume of 2,154,943. The company has a current ratio of 0.25, a quick ratio of 0.12 and a debt-to-equity ratio of 161.58. The business has a 50 day simple moving average of GBX 530.79 and a 200-day simple moving average of GBX 552.66. Phoenix Group has a 1-year low of GBX 501 ($6.21) and a 1-year high of GBX 647 ($8.01). The stock has a market capitalization of £5.35 billion, a PE ratio of -290.65, a price-to-earnings-growth ratio of 1.95 and a beta of 0.78.

About Phoenix Group

Phoenix Group Holdings plc operates in the long-term savings and retirement business in Europe. The company operates through four segments: UK Heritage, UK Open, Europe, and Management Services. It provides a range of pensions and savings products to support people across various stages of the savings life cycle.