Risk Warning The value of investments can fall as well as rise and any income from them is not guaranteed and you may get back less than you invested. Past performance is not a guide to future performance.
By Michele Maatouk
Date: Friday 20 Nov 2020
LONDON (ShareCast) - (Sharecast News) - Barclays initiated coverage on AJ Bell, Quilter and IntegraFin on Friday, as it noted that UK investment platforms have traded at high multiples since their debuts in 2018, reflecting attractive structural assets under management growth.
"While we expect this AUM growth to continue (we expect 13% per annum for IntegraFin), we see a divergent picture for profitability with stock-specific headwinds causing an under-appreciated dislocation between AUM and earnings growth," it said.
Barclays initiated coverage of AJ Bell at 'underweight' with a 320p price target, while Quilter was started at 'equalweight' with a 140p price target and IntegraFin Holdings at 'overweight' with a 600p price target.
The bank said IntegraFin is the name it prefers, with 21% implied upside, joining 3i and Hargreaves Lansdown as favoured names in the sector.
|52 Week High||574.00p|
|52 Week Low||456.50p|
Compare performance with the sector and the market.
|1st Interim||2nd Interim|
|Time||Volume / Share Price|
|15:40||30 @ 523.00p|
|15:40||375 @ 523.00p|
|15:40||347 @ 523.00p|
|15:40||60 @ 523.00p|
|15:40||53 @ 523.00p|