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IG Group upgraded by Liberum

16 August 2016 13:26

Liberum Capital has upgraded its recommendation on IG (LON:IGG) to 'buy' from 'hold' stating that, for the first time in over four years, it is excited by the group's prospects.

The broker added: "We had been concerned about its ability to grow active clients and profits. However, the FY16 results evidenced a significant improvement in marketing and client acquisition.

"Trading remains highly correlated to market volatility but the underlying growth opportunity looks promising."

Analysts have increased their target price to 966 pence per share (from 770 pence).

At 1:26pm: (LON:IGG) IG Group Holdings PLC share price was +6.5p at 928.5p

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