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Share Price:
Down 1,700.00p
Change Today:
-12.00p
Market Cap:
5,001m
Sector:
Financial Services

Cannacord hikes target on Intermediate Capital Group, stays at 'conviction buy'

By Alexander Bueso

Date: Friday 20 Sep 2019

LONDON (ShareCast) - (Sharecast News) - Analysts at Cannacord Genuity reiterated their 'conviction buy' recommendation for shares of Intermediate Capital Group following the asset manager's latest half-year figures.
They also hiked their target price for the shares from 1,329.0p to 1,650.0 on the back of upwards revisions to their estimates for Intermediate Capital's third-party funds under management, adjusted earnings per share and dividend payouts for 2020 and 2021.

In particular, the Canadian broker emphasised the firm's good positioning in a structural growth market, what with allocations to alternatives set to continue growing, and said that they were "encouraged to see that in recent third-party fund raises, fees are being earned on committed capital, (rather than invested) from first close".

Furthermore, the recent "strong" performance for funds - all of which were set to beat fee hurdles according to the company - was a good omen for future fund raising.

Cannacord also noted the outfit's defensive qualities.

"We note the charging structure on third party funds, i.e., revenue earned on committed or invested capital rather than mark-to-market values, means ICP is defensively positioned in the event of a market sell-off/declining asset values."

Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

 

ICP Market Data

Currency UK Pounds
Price 1,700.00p
Change Today -12.00p
52 Week High 1,877.00p
52 Week Low 559.50p
Volume 379,409
Shares Issued 294.18m
Market Cap 5,001m

Performance Indicators

Compare performance with the sector and the market.

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Price Trend
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Income
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Growth
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P/E
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Dividend Yield
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EPS Growth
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Operating Margin
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What The Brokers Say

Strong Buy 8
Buy 1
Neutral 1
Sell 0
Strong Sell 1
Total 11
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

ICP Dividends

  Latest Previous
  Interim Final
Ex-Div 10-Dec-20 18-Jun-20
Paid 08-Jan-21 05-Aug-20
Amount 17.00p 35.80p

Trades for 04-Dec-2020

Time Volume / Share Price
16:35 177 @ 1,700.00p
16:35 200,088 @ 1,700.00p
16:29 241 @ 1,700.00p
16:29 97 @ 1,700.00p
16:29 273 @ 1,699.00p

ICP Key Personnel

CEO Benoit Durteste
Chair Davies of Abersoch