Shaftesbury Capital (LON:SHC) Rating Increased to Buy at HSBC

Shaftesbury Capital (LON:SHC) was upgraded by equities researchers at HSBC to a “buy” rating in a note issued to investors on Thursday, Marketbeat Ratings reports. The firm presently has a GBX 149 ($1.90) target price on the stock. HSBC’s target price suggests a potential upside of 5.30% from the company’s current price.

Separately, Berenberg Bank reissued a “buy” rating and issued a GBX 160 ($2.04) price objective on shares of Shaftesbury Capital in a report on Tuesday, March 5th.

Shaftesbury Capital Stock Performance

Shares of Shaftesbury Capital stock opened at GBX 141.50 ($1.80) on Thursday. The company has a 50-day simple moving average of GBX 130.72 and a two-hundred day simple moving average of GBX 123.87. Shaftesbury Capital has a 52-week low of GBX 101.90 ($1.30) and a 52-week high of GBX 142.70 ($1.82). The stock has a market capitalization of £2.76 billion, a PE ratio of 314.44 and a beta of 1.11.

Insider Buying and Selling

In related news, insider Ian Hawksworth purchased 88,888 shares of the business’s stock in a transaction dated Thursday, February 29th. The shares were purchased at an average cost of GBX 124 ($1.58) per share, for a total transaction of £110,221.12 ($140,319.69). 3.52% of the stock is owned by corporate insiders.

About Shaftesbury Capital

Shaftesbury Capital PLC ("Shaftesbury Capital") is the leading central London mixed-use REIT and is a constituent of the FTSE-250 Index. Our property portfolio, valued at £4.9 billion at June 2023, extends to 2.9 million square feet of lettable space across the most vibrant areas of London's West End.