Berenberg Bank Downgrades Tate & Lyle (LON:TATE) to Hold

Tate & Lyle (LON:TATE) was downgraded by Berenberg Bank to a “hold” rating in a report released on Tuesday, MarketBeat.com reports. They presently have a GBX 600 ($7.55) price target on the stock, down from their prior price target of GBX 900 ($11.33). Berenberg Bank’s target price suggests a potential upside of 10.40% from the company’s previous close.

Separately, Deutsche Bank Aktiengesellschaft raised their target price on Tate & Lyle from GBX 850 ($10.70) to GBX 950 ($11.95) and gave the stock a “buy” rating in a research report on Wednesday, December 11th.

Tate & Lyle Price Performance

Tate & Lyle stock opened at GBX 543.50 ($6.84) on Tuesday. The company has a debt-to-equity ratio of 47.66, a current ratio of 3.22 and a quick ratio of 1.77. The company has a market capitalization of £2.37 billion, a PE ratio of 11.34, a price-to-earnings-growth ratio of 1.37 and a beta of 0.50. Tate & Lyle has a one year low of GBX 531.50 ($6.69) and a one year high of GBX 848.50 ($10.68). The business has a 50 day simple moving average of GBX 647.65 and a 200 day simple moving average of GBX 685.35.

Tate & Lyle Company Profile

Tate & Lyle PLC, together with its subsidiaries, provides ingredients and solutions to the food, beverage, and other industries in the United States, the United Kingdom, other European countries, and internationally. It operates through three segments: Food & Beverage Solutions, Sucralose, and Primary Products.