Shares of Royal Bank of Scotland Group plc (LON:RBS) are trading up this morning in England as the Chinese Government appears to be set on not allowing their stock market to crash. With a ‘national team’ intervening and requesting that mutual funds buy stocks in order to keep the market from totally collapsing, Chinese stocks recovered in trading today.
This recovery is being seen everywhere from the pre-market in the United States to Europe where Royal Bank of Scotland Group plc (LON:RBS) shares are up slightly today.
Shares of Royal Bank of Scotland Group plc (LON:RBS) also got a boost earlier this month when RBC Capital (USA) upgraded the company from Sector Perform to Outperform. It should be interesting to see how shares of RBS finish the trading day, and how the US market will also respond to the Chinese Market Woes being put to a halt (at least briefly).
The stock is currently trading higher by 0.66% or GBX 1.9 following the positive news, hitting GBX 290.4 per share at the time of us publishing this article. About 2.82 million shares traded hands. RBS has declined 23.08% since June 4, 2015 and is downtrending. It has underperformed the S&P500 by 17.22%.
From a total of 21 analysts covering Royal Bank of Scotland Group The PLC (LON:RBS) stock, 7 rate it a “Buy”, 2 a “Sell”, and 12 a “Hold”. This means that 33% of the ratings are positive. The highest target price is GBX 510 while the lowest target price is GBX 250. The mean of all analyst targets is GBX 364.32 which is 25.45% above today’s (GBX 290.4) stock price. Royal Bank of Scotland Group The PLC was the topic of 89 analyst reports since July 23, 2015 according to the firm StockzIntelligence Inc. RBC Capital Markets upgraded shares on January 5 to a “Outperform” rating. Berenberg maintained shares with a”Sell” rating and a GBX 250 target share price in their report from a December 7. Deutsche Bank maintained RBS stock in a recent report from December 17 with a “Hold” rating. Societe Generale maintained the rating on December 1. Societe Generale has a “Hold” rating and a GBX 330 price target on shares. Finally, J.P. Morgan maintained the stock with a “Neutral” rating in a report they issued on a December 7.
The Royal Bank of Scotland Group plc provides financial services and products to personal, commercial, corporate and institutional customers. The company has a market cap of 34.72 billion GBP. The Firm conducts its business through three franchises and seven operating divisions. It currently has negative earnings. The Company’s Personal & Business Banking (PBB) franchise consists of two divisions: UK Personal & Business Banking (UK PBB), including Williams & Glyn, and Ulster Bank.