Shaftesbury PLC (SHB.L) 06-04-20
Shares in Shaftesbury PLC (SHB.L) have fallen dramatically from recent highs of 979.5p. Will it continue, or is this an opportunity to pick up a bargain?
- Now trading at 579.88p (at time of writing). A return to previous highs would represent a rise of 68%.
- This stock is one of the most significant fallers in the period.
- Is the trend your friend, or is a bounce imminent?
- The market often over-reacts to bad news. Traders should consider whether it is down for good reason, or is this another over-reaction?
- Bargain hunters should be mindful of fundamentals and events, which can influence price action. Check our website and news outlets for updates.
- Shares -40% from 12-month highs; +-1% from 12 month lows.
01 Apr: JP Morgan Cazenove reiterates its neutral rating on Shaftesbury (SHB) and reduced the target price to 900p (from 950p).
25 Mar: Liberum Capital has upgraded its rating on Shaftesbury (SHB) to buy (from hold) and reduced the target price to 900p (from 980p).
24 Mar: Shaftesbury, the London real estate investor, announced it would not pay an interim dividend as it cautioned that annual profits were likely to be well below previous expectations.
11 Mar: Morgan Stanley reiterates its underweight rating on Shaftesbury (SHB) and increased the target price to 770p (from 750p).
02 Mar: Jonathan Nicholls, Chairman, bought 15,000 shares within the firm on the 28th February 2020 at a price of 797.15p. This Director currently has 45,000 shares.
27 Jan: Liberum Capital reiterates its hold rating on Shaftesbury (SHB) and reduced the target price to 980p (from 1000p).
Source: Bloomberg, Reuters, Alpha Terminal, FT, DJ Newswires