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ICAP upgraded by Exane

18 August 2016 13:55

Exane BNP Paribas has upgraded its investment rating on ICAP/NEX to 'outperform' from 'neutral', stating that it believes the company has significant opportunities to grow into new asset classes and to tap into non-bank pools of liquidity.

The broker added: "Post demerger of its voice business we expect NEX's potential earnings power to become increasingly clear. We see the potential for a clean break from NEX's constant cost creep, which could help the shares re-rate."

Analysts have increased their target price by 13% to 510 pence per share.

At 1:55pm: (LON:IAP) ICAP PLC share price was +17.95p at 476.85p

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