Berenberg Bank Boosts Loungers (LON:LGRS) Price Target to GBX 390

Loungers (LON:LGRS) had its price objective raised by Berenberg Bank from GBX 350 ($4.57) to GBX 390 ($5.10) in a research note issued to investors on Wednesday, Digital Look reports. The firm presently has a “buy” rating on the stock. Berenberg Bank’s price objective suggests a potential upside of 38.30% from the stock’s current price.

Separately, Liberum Capital restated a “buy” rating and set a GBX 350 ($4.57) target price on shares of Loungers in a report on Wednesday, July 21st.

Shares of LON:LGRS opened at GBX 282 ($3.68) on Wednesday. The business has a 50-day moving average price of GBX 282.76 and a 200 day moving average price of GBX 279.67. The company has a current ratio of 0.23, a quick ratio of 0.21 and a debt-to-equity ratio of 132.81. The company has a market capitalization of £289.72 million and a price-to-earnings ratio of -25.87. Loungers has a 12-month low of GBX 130.75 ($1.71) and a 12-month high of GBX 395.25 ($5.16).

About Loungers

Loungers plc operates cafés, bars, and restaurants under the Lounge and Cosy Club brands in England and Wales. As of April 19, 2020, it operated 165 sites, including 136 Lounges and 29 Cosy Club cafés, bars, and restaurants. The company was founded in 2002 and is based in Bristol, the United Kingdom.

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