Hiscox Ltd (HSX.L) 04-05-20
Shares in Hiscox Ltd (HSX.L) have fallen dramatically from recent highs of 1439p. Will it continue, or is this an opportunity to pick up a bargain?
- Now trading at 668.4p (at time of writing). A return to previous highs would represent a rise of 115%.
- The market often over-reacts to bad news. Traders should consider whether it is down for good reason, or is this another over-reaction?
- Shares -62% from 12-month highs; +1% from 12 month lows.
29 Apr: Hiscox, the insurer, announced it was considering raising equity to assist in beating the pandemic.
28 Apr: Barclays Capital reiterates its underweight rating on Hiscox Ltd (HSX) and reduced the target price to 996p (from 1001p).
23 Apr: RBC Capital Markets reiterates its sector performer rating on Hiscox Ltd (HSX) and reduced the target price to 875p (from 1075p).
20 Apr: Peel Hunt reiterates its reduce rating on Hiscox Ltd (HSX) and increased the target price to 1130p (from 800p).
Source: Bloomberg, Reuters, Alpha Terminal, FT, DJ Newswires