J P Morgan Chase & Co Increases Shaftesbury (SHB) Price Target to GBX 1,150

Shaftesbury (LON:SHB) had its price objective boosted by investment analysts at J P Morgan Chase & Co from GBX 1,100 ($14.80) to GBX 1,150 ($15.48) in a note issued to investors on Tuesday. The firm currently has an “overweight” rating on the real estate investment trust’s stock. J P Morgan Chase & Co’s target price indicates a potential upside of 15.87% from the stock’s current price.

SHB has been the topic of several other research reports. Liberum Capital reaffirmed a “hold” rating and set a GBX 1,025 ($13.80) target price on shares of Shaftesbury in a research report on Monday, August 21st. Peel Hunt reaffirmed a “reduce” rating and set a GBX 875 ($11.78) target price on shares of Shaftesbury in a research report on Monday, August 21st. Goldman Sachs Group reaffirmed a “sell” rating and set a GBX 883 ($11.88) target price on shares of Shaftesbury in a research report on Wednesday, September 27th. Numis Securities reaffirmed a “hold” rating and set a GBX 974 ($13.11) target price on shares of Shaftesbury in a research report on Thursday, October 19th. Finally, Jefferies Group reaffirmed a “hold” rating and set a GBX 1,003 ($13.50) target price on shares of Shaftesbury in a research report on Wednesday, November 29th. Four investment analysts have rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of GBX 972.10 ($13.08).

Shaftesbury (SHB) opened at GBX 992.50 ($13.36) on Tuesday. Shaftesbury has a fifty-two week low of GBX 861 ($11.59) and a fifty-two week high of GBX 1,036 ($13.94).

Shaftesbury (LON:SHB) last announced its earnings results on Tuesday, November 28th. The real estate investment trust reported GBX 16.20 ($0.22) earnings per share (EPS) for the quarter, missing the consensus estimate of GBX 16.30 ($0.22) by GBX (0.10) ($0.00). The company had revenue of £111.50 million for the quarter. Shaftesbury had a net margin of 186.52% and a return on equity of 8.41%.

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About Shaftesbury

Shaftesbury PLC is a real estate investment trust. The Company’s objective is to deliver long-term growth in rental income, capital values and shareholder returns. It focuses on retails, restaurants, cafes and leisure. It has approximately 590 shops, restaurants, cafes and bars. Its upper floors consist of over 406,000 square feet of office space and over 560 apartments.

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