UBS upgrades St James's Place to 'buy', highlights earnings growth

(Sharecast News) - UBS upgraded its stance on wealth manager St James's Place on Friday to 'buy' from 'neutral' on valuation grounds following the recent selloff, and citing earnings support. The bank cut its price target on the stock to 1,465p from 1,565p.

It said St James's Place is the cheapest UK asset gatherer, with more than 20% earnings growth.

"Incorporating some AI-related disruption still gives circa 15% upside," UBS said, adding that there are "capital return surprises ahead".

At 1505 GMT, the shares were 1.3% higher at 1,287p.