Royal Bank Of Canada Upgrades Chemring Group Target Price to GBX 680

Chemring Group (LON:CHG) has received an upgraded price target from Royal Bank Of Canada, which now predicts GBX 680 for the stock. This new target represents a potential upside of 5.67% from the company's current price.

The upgrade comes after Berenberg Bank also increased its target price on Chemring Group to GBX 660 and reaffirmed its 'buy' rating in a report on August 3rd. Jefferies Financial Group and Deutsche Bank Aktiengesellschaft have similarly maintained their 'buy' ratings, with target prices of GBX 658 and GBX 650 respectively.

Chemring Group's stock price opened at GBX 643.50 on Monday, with a market cap of £1.74 billion and a P/E ratio of 52.32. The company has reported GBX 6.20 EPS for the quarter and is expected to post 24.8815166 earnings per share for the current fiscal year.