On Monday morning, the Royal Bank of Canada upgraded its rating on shares of Compass Group (LON:CPG) to “outperform,” reflecting a positive outlook for the company. The bank set a target price of GBX 2,775 per share, an increase from its previous target of GBX 2,700, as reported by MarketBeat Ratings.
Recent Analyst Ratings and Price Targets
Multiple analysts have weighed in on Compass Group’s stock in recent weeks. Jefferies Financial Group reaffirmed a “buy” rating on October 10, 2023, with a target price of GBX 3,000. Following this, Berenberg Bank also restated a “buy” rating on October 21, setting a similar price target of GBX 3,000.
On November 27, Citigroup raised its rating to “buy” and adjusted its price objective from GBX 2,750 to GBX 3,000. Earlier, on September 11, Deutsche Bank Aktiengesellschaft upgraded the stock to “buy” and increased its target price from GBX 2,700 to GBX 2,900.
According to data from MarketBeat.com, seven analysts currently rate Compass Group as a “buy,” contributing to a consensus rating of “buy” and an average target price of GBX 2,962.50.
Insider Transactions and Company Overview
In related news, insider Leanne Wood acquired 444 shares of Compass Group on November 25, 2023, at an average price of GBX 2,392 per share, totaling approximately £10,620.48. Currently, corporate insiders hold 0.52% of the company’s stock.
Compass Group PLC is a leading global food service company, generating annual revenues of $42.2 billion for the fiscal year ending September 30, 2024. The company operates in approximately 30 countries and employs around 580,000 people. Its services span various sectors, including Business & Industry, Healthcare, Education, Sports & Leisure, and Defence, Offshore & Remote, supported by a well-established brand portfolio.
As the food service industry continues to evolve, Compass Group’s robust performance and favorable analyst ratings reflect its strong market position and growth potential. Investors and stakeholders will be closely monitoring the company’s future developments and strategic initiatives.
