Schroders: Liberum increases price target.
(CercleFinance.com) - Liberum maintains a "hold" rating on Schroders with an increased target price of 3564 pence from 3387 pence after first-half results that were 3-4% ahead of consensus.
The brokerage firm says the British asset manager's presentation was "more encouraging" than anticipated, with three key points identified, with the main one being slower revenue margin attrition than witnessed in recent years.
Liberum also cites improved cost control and early signs of delivery in the US intermediary market.
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The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
The brokerage firm says the British asset manager's presentation was "more encouraging" than anticipated, with three key points identified, with the main one being slower revenue margin attrition than witnessed in recent years.
Liberum also cites improved cost control and early signs of delivery in the US intermediary market.
Copyright (c) 2017 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.