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Royal Mail Share Price Remains Steady

Royal Mail Share Price Remains Steady

Despite an early morning spike, shares in the Royal Mail remained fairly static yesterday. Having opened at 459.40p, just before 10am they jumped to 460.90p but quickly fell again and in the end closed the day at 458p. However, overall the shares are performing well and are up 3.32% for the week and 16.33% for the month.

Last week Goldman Sachs boosted Royal Mail shares by issuing a ‘Buy’ recommendation. However, the other major brokers haven’t issued an assessment since the end of last month. Credit Suisse issued an ‘Underperform’ recommendation with a target price of 377p on 29th October while Cantor Fitzgerald issued a ‘Sell’ recommendation with a target price of 440p on 24th October.

If these brokers issue updated recommendations in the coming week then it is highly likely that Royal Mail’s shares will continue to climb.

OCA News Editor

Jenny McKinnley is OCA’s financial correspondent. After spending years on the trading floor in both NY and London, she offers insight from the inside out on world financial news and events.

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