This report is not a personal recommendation and does not take into account your personal circumstances or appetite for risk.
Trade Parameters
Observations – For
Observations – Against
Strong recovery (67%) since Brexit vote. 2009 rising channel. Indian JV (35% stake) priced IPO at top of range. H1 results showed higher profits and assets under management, allowing it to increase the dividend (5% yield).
Consensus shows no brokers negative on the stock, while 75% of broker targets imply upside. In facts, the consensus target of 481p is well above our short-term trade objective, and the November average of broker updates suggests upside to 495p.
Next Event: FY results, 23 Feb
Latest Broker 12-Month Consensus: 62% Buy, 38% Hold, 0% Sell (full breakdown on request)
Source: DowJones Newswires, Reuters News, Bloomberg or Company Press releases
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