Is Rocket Internet (ETR:RKET) a Stock One Should Buy Following Today’s Citigroup Corp. Upgrade?


Rocket Internet (ETR:RKET) Stock Upgrade

In an analyst note published on Wednesday morning, Citigroup Corp. has upgraded shares of Rocket Internet (ETR:RKET) stock to a solid Buy and has established a one year target price to EUR 63.00. This target is 116.35% from RKET’s current share price.

From a total of 4 analysts covering Rocket Internet (ETR:RKET) stock, 3 rate it a ”Buy”, 0 a “Sell”, and 1 a ”Hold”. This means that 75% of the ratings are positive. The highest target price is €54 while the lowest target price is €50. The mean of all analyst targets is €51 with a 75.20% above today’s (€29.11) stock price. Rocket Internet was the topic of 8 analyst reports since September 18, 2015 according to the firm StockzIntelligence Inc. Warburg Research upgraded shares on October 29 to “Buy” rating. JP Morgan maintained RKET stock in a recent report from October 8 with “Neutral” rating.

The stock increased 2.50% or EUR 0.71 on December 15, striking EUR 29.11. Approximately 222,521 shares of stock traded hands. Rocket Internet SE (ETR:RKET) has declined 25.04% since May 19, 2015 and is downtrending. It has underperformed by 21.36% the S&P500.

 Is Rocket Internet (ETR:RKET) a Stock One Should Buy Following Today’s Citigroup Corp. Upgrade?

Rocket Internet SE is a Germany-based firm active in the investment management and fund operator industry. The company has a market cap of 4.81 billion EUR. The Firm identifies, builds, scales and retains ownership of Internet companies. It currently has negative earnings. It mainly operates in three sectors: e-commerce, including retail companies in the areas of fashion, general merchandise, home and living, office supplies and food groceries; marketplace, comprising companies active in fields such as real estate, travel, transport and food delivery which offer buyers and sellers venues for direct transactions, among others; and financial technology, containing companies bringing together borrowers and lenders in areas like the consumer and small and medium-sized enterprise divisions.