Shares of Compass Group (LON: CPG) received a positive boost as the Royal Bank of Canada upgraded its rating to “outperform” in a research report released on Monday morning. The bank set a new target price of GBX 2,775, an increase from the previous target of GBX 2,700.
Several other financial institutions have also recently revised their outlooks for Compass Group. On October 10, Jefferies Financial Group reaffirmed a “buy” rating and set a price target of GBX 3,000. Following closely, Berenberg Bank issued a similar “buy” rating on October 21, with the same target price of GBX 3,000.
Moreover, on November 27, Citigroup upgraded Compass Group to a “buy” rating and adjusted their price objective from GBX 2,750 to GBX 3,000. Earlier in September, Deutsche Bank Aktiengesellschaft had also raised its rating 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 the stock as a “buy,” leading to a consensus rating of “buy” and a consensus target price of GBX 2,962.50.
Recent Insider Activity
In related news, insider Leanne Wood acquired 444 shares of Compass Group’s stock on November 25, at an average price of GBX 2,392 per share. This transaction amounted to a total of £10,620.48. Currently, corporate insiders hold approximately 0.52% of the company’s stock.
Company Overview
Compass Group PLC is one of the world’s leading food service companies, reporting annual revenues of $42.2 billion for the year ending September 30, 2024. The company serves millions of meals in around 30 countries and employs approximately 580,000 individuals. It specializes in providing food and various support services across multiple sectors, including Business & Industry, Healthcare & Senior Living, Education, Sports & Leisure, and Defence, Offshore & Remote. Compass Group is recognized for its established brand portfolio and its commitment to quality service.
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