Citigroup Increases IG Group (LON:IGG) Price Target to GBX 850

IG Group (LON:IGG) had its price objective lifted by investment analysts at Citigroup from GBX 520 ($6.79) to GBX 850 ($11.11) in a research report issued on Friday, September 28th. The firm currently has a “neutral” rating on the stock. Citigroup’s target price would suggest a potential upside of 38.44% from the stock’s current price.

A number of other analysts also recently commented on the company. Shore Capital downgraded IG Group to a “sell” rating in a research note on Monday, August 6th. Numis Securities raised IG Group to a “buy” rating and set a GBX 980 ($12.81) price objective on the stock in a research note on Monday, September 24th. Barclays reissued an “overweight” rating on shares of IG Group in a research note on Friday, September 21st. Finally, Liberum Capital downgraded IG Group to an “under review” rating in a research note on Friday, June 8th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of GBX 957.25 ($12.51).

IGG opened at GBX 614 ($8.02) on Friday. IG Group has a one year low of GBX 487.82 ($6.37) and a one year high of GBX 837.50 ($10.94).

In related news, insider Paul Mainwaring sold 29,765 shares of IG Group stock in a transaction on Tuesday, August 7th. The stock was sold at an average price of GBX 889 ($11.62), for a total value of £264,610.85 ($345,760.94).

IG Group Company Profile

IG Group Holdings plc provides leveraged derivatives and spread betting under the IG brand worldwide. Its CFDs (contracts for difference) are derivatives contracts that enable clients to take advantage of changes in an asset's price. The company also offers clients access to a range of risk-mitigation measures, including stops and limits and a limited risk account; and products, such as share dealing and investment portfolios, as well as enables clients to hold their investments in ISAs and SIPPs.

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Analyst Recommendations for IG Group (LON:IGG)

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