Safestay PLC (SSTY) Upgraded to “Buy” at Canaccord Genuity

Safestay PLC (LON:SSTY) was upgraded by investment analysts at Canaccord Genuity to a “buy” rating in a research report issued to clients and investors on Monday. The brokerage currently has a GBX 60 ($0.75) price objective on the stock, up from their previous price objective of GBX 42 ($0.52). Canaccord Genuity’s price objective would indicate a potential upside of 10.95% from the stock’s current price.

Safestay PLC (LON:SSTY) traded down 2.38% during mid-day trading on Monday, hitting GBX 51.25. 24,797 shares of the company traded hands. The company’s 50-day moving average is GBX 46.73 and its 200-day moving average is GBX 44.26. Safestay PLC has a one year low of GBX 36.70 and a one year high of GBX 65.00.

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About Safestay PLC

Safestay plc is a United Kingdom-based owner and operator of a hostel group. The principal activity of the Company consists of the operation of backpacker tourist hostels under the Safestay brand. The Company offers accommodation for a range of guests, including from school groups, young adults and backpackers to families.

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