JPMorgan Chase & Co. Downgrades Deliveroo (OTCMKTS:DROOF) to Underweight

JPMorgan Chase & Co. cut shares of Deliveroo (OTCMKTS:DROOF – Get Rating) from a neutral rating to an underweight rating in a report issued on Monday morning, The Fly reports.

DROOF has been the topic of several other reports. Barclays boosted their price target on Deliveroo from GBX 165 ($2.02) to GBX 170 ($2.08) in a report on Friday, March 18th. Citigroup upgraded Deliveroo from a neutral rating to a buy rating in a report on Monday, February 28th. HSBC began coverage on Deliveroo in a report on Friday, March 25th. They issued a hold rating on the stock. Morgan Stanley reduced their target price on Deliveroo from GBX 193 ($2.36) to GBX 164 ($2.01) in a report on Friday, June 17th. Finally, Bryan, Garnier & Co began coverage on Deliveroo in a report on Tuesday, May 17th. They issued a neutral rating on the stock. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of Hold and a consensus target price of $165.67.

OTCMKTS:DROOF opened at $1.07 on Monday. The stock’s 50-day moving average is $1.15 and its 200-day moving average is $1.77. Deliveroo has a 1-year low of $1.01 and a 1-year high of $6.20.

About Deliveroo (Get Rating)

Deliveroo plc operates an online food delivery platform. The company connects local consumers, restaurants and grocers, and riders to fulfil a purchase. It operates approximately more than 800 locations across 11 markets, including Australia, Belgium, France, Hong Kong, Italy, Ireland, the Netherlands, Singapore, the United Arab Emirates, Kuwait, and the United Kingdom.

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