skip to content

Market News

ICP downgraded by Macquarie

22 November 2016 13:58

Equity research analysts at Macquarie have downgraded their recommendation on specialist asset manager Intermediate Capital Group (LON:ICP) to 'neutral' after revising their estimates post the half-year results.

Specifically, the broker commented: "We downgrade the stock to a Neutral largely on valuation as the stock trades at 1.8x current and 1.7x forward PBV (Price to Book)."

It added: "Although FY18 is likely to be a stronger year for gross flows as some of the more established themes return to the market to refund, the fees generation is likely to lag flows."

Macquarie has a new 675 pence per share target in place.

At 1:58pm: (LON:ICP) Intermediate Capital Group PLC share price was +14p at 687.5p

Story provided by StockMarketWire.com

Related Company: ICP

Info Point:

To buy or sell shares call our Dealing Room on 0113 243 6941.

Too much jargon? Our glossary will help make sense of things.

Find out more about our Share Dealing Services.

Client Area Access

» Secure Login

» Not registered yet?

-

Branch Finder

Redmayne-Bentley have High Street branches throughout the UK. Find your nearest branch.