Todays Report: The Credit Suisse Group AG (CS) Receives $16.55 Average Price Target from Analysts

The Credit Suisse Group AG (CS) Receives $16.55 Average Price Target from Analysts

Shares of Credit Suisse Group AG (NYSE:CS) have earned a consensus rating of “Hold” from the fifteen ratings firms that are presently covering the firm. Five research analysts have rated the stock with a sell recommendation, four have issued a hold recommendation, five have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $16.55.

Several equities research analysts have recently commented on CS shares. Keefe, Bruyette & Woods reiterated a “buy” rating on shares of Credit Suisse Group AG in a research note on Tuesday, June 28th. JPMorgan Chase & Co. downgraded shares of Credit Suisse Group AG from a “neutral” rating to an “underweight” rating in a research note on Monday, June 27th. Zacks Investment Research raised shares of Credit Suisse Group AG from a “strong sell” rating to a “buy” rating and set a $15.00 target price for the company in a report on Tuesday. Barclays PLC cut shares of Credit Suisse Group AG to a “hold” rating in a report on Monday, June 27th. Finally, Royal Bank Of Canada cut shares of Credit Suisse Group AG from an “outperform” rating to a “sector perform” rating in a report on Tuesday, June 28th.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Commonwealth Equity Services Inc bought a new stake in shares of Credit Suisse Group AG during the first quarter valued at about $732,000. Envestnet Asset Management Inc. raised its stake in shares of Credit Suisse Group AG by 14.7% in the first quarter. Envestnet Asset Management Inc. now owns 178,598 shares of the company’s stock valued at $2,524,000 after buying an additional 22,932 shares during the period. Dodge & Cox raised its stake in shares of Credit Suisse Group AG by 11.3% in the first quarter. Dodge & Cox now owns 878,687 shares of the company’s stock valued at $12,416,000 after buying an additional 89,493 shares during the period. Franklin Resources Inc. raised its stake in shares of Credit Suisse Group AG by 29.4% in the first quarter. Franklin Resources Inc. now owns 694,850 shares of the company’s stock valued at $9,817,000 after buying an additional 157,901 shares during the period. Finally, Brandes Investment Partners LP raised its stake in shares of Credit Suisse Group AG by 13.1% in the second quarter. Brandes Investment Partners LP now owns 6,299,201 shares of the company’s stock valued at $67,401,000 after buying an additional 731,888 shares during the period. 2.57% of the stock is owned by institutional investors.

Credit Suisse Group AG (NYSE:CS) opened at 13.04 on Wednesday. Credit Suisse Group AG has a 12-month low of $10.01 and a 12-month high of $26.30. The firm’s 50 day moving average is $13.18 and its 200 day moving average is $12.92. The company’s market cap is $27.14 billion.

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