Berenberg slightly raises target price on Quilter.
Analysts at Berenberg slightly raised their target price on wealth management firm Quilter from 140.0p to 145.0p on Friday following the group's "strongest quarter of the year" for flows.
Source: Sharecast
Quilter released its Q424 update on earlier in the work, where it revealed it had grown assets under management and administration to roughly £119.0bn.
Q424 also saw the highest net inflow figure of the financial year, with management highlighting that the strategic initiatives put in place over the past few years have borne fruit.
"We expect Quilter to continue to generate strong levels of flows, with the platform business – in particular – performing well," said Berenberg, which reiterated its 'hold' rating on the stock.
"However, we await clarity on the outcome of the ongoing advice evidence review, with management announcing that it will provide a progress update on this work at the FY24 results on 5 March."
Halifax is not responsible for the content and accuracy of the Markets News articles. We may not share the views of the author. Understand the risks, please remember the value of your investment can go down as well as up and you may not get back the full amount you invest. We don't provide advice so if you are in any doubt about buying and selling shares or making your own investment decisions we recommend you seek advice from a suitably qualified Financial Advisor. Past performance is not a guide to future performance.
