ConvaTec Group (CTEC) Price Target Cut to GBX 130 by Analysts at Deutsche Bank

ConvaTec Group (LON:CTEC) had its price objective dropped by equities research analysts at Deutsche Bank from GBX 180 ($2.35) to GBX 130 ($1.70) in a note issued to investors on Monday. The brokerage currently has a “sell” rating on the stock. Deutsche Bank’s price objective would indicate a potential downside of 13.56% from the company’s previous close.

A number of other research analysts also recently commented on the stock. Peel Hunt reiterated a “hold” rating on shares of ConvaTec Group in a research note on Tuesday, September 4th. Royal Bank of Canada dropped their price objective on shares of ConvaTec Group from GBX 240 ($3.14) to GBX 210 ($2.74) and set an “outperform” rating on the stock in a report on Monday, October 15th. Jefferies Financial Group lowered their target price on shares of ConvaTec Group from GBX 280 ($3.66) to GBX 210 ($2.74) and set a “buy” rating on the stock in a research note on Wednesday, October 31st. Numis Securities reissued a “hold” rating and set a GBX 220 ($2.87) target price on shares of ConvaTec Group in a research note on Monday, October 15th. Finally, Barclays assumed coverage on shares of ConvaTec Group in a research report on Tuesday, November 27th. They set an “underweight” rating and a GBX 150 ($1.96) price objective for the company. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the stock. ConvaTec Group has a consensus rating of “Hold” and an average price target of GBX 196.75 ($2.57).

ConvaTec Group stock opened at GBX 150.40 ($1.97) on Monday. ConvaTec Group has a 52-week low of GBX 181.40 ($2.37) and a 52-week high of GBX 349.10 ($4.56).

In other news, insider Frank Schulkes acquired 65,000 shares of the company’s stock in a transaction on Monday, October 15th. The stock was purchased at an average cost of GBX 150 ($1.96) per share, with a total value of £97,500 ($127,401.02).

About ConvaTec Group

ConvaTec Group Plc develops, manufactures, and markets medical products and technologies worldwide. It offers advanced wound dressings and skin care products for the management of chronic wounds resulting from various conditions, such as diabetes, immobility, and venous disease, as well as for traumatic injury, burns, invasive surgery, and other causes.

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Analyst Recommendations for ConvaTec Group (LON:CTEC)

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