This report is not a personal recommendation and does not take into account your personal circumstances or appetite for risk.
Trade Parameters
Technical Observations – For
Technical Observations – Against
Provident receives full FCA authorization for home-credit business (9 Nov). Provident appoints Simon Thomas as new CFO, moving over from Just Group (6 Nov). Provident Q3 results showed continued progress (19 Oct).
Risks to Provident include a no-deal Brexit, tougher lending regulations, a Bank of England interest rate cut could mean more competition from high street lenders, and of course, broker downgrades.
Analysts are biased positive with 50% suggesting Buy and 50% Hold, while all 8 analysts with target prices suggest upside from current levels to a consensus of 731p, well above our target for revisiting August highs.
Next Event: Trading Update, 15 Jan
Latest Broker 12-Month Consensus: 50% Buy, 50% Hold, 0% Sell (full breakdown on request)
Source: DowJones Newswires, Reuters News, Bloomberg or Company Press releases
| 1wk | 1m | 3m | 6m | 1yr | 2yr | 3yr | 4yr | 5yr | |
| Perf % | -2.3 | -5.7 | 7.6 | 1.6 | 5.5 | -6.3 | 7.7 | 4.8 | 0.3 |
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Prepared by Michael van Dulken, Head of Research