Berenberg lowers target price on Impax Asset Management.
Analysts at Berenberg lowered their target price on Impax Asset Management from 470.0p to 440.0p on Wednesday following the group's trading update earlier in the morning.
Impax Asset Management Group
05 March 2025 16:50:22
Source: Sharecast
Impax revealed assets under management had decreased by roughly 16% from 31 December 2024 to 28 February 2025 but said it has also made progress on its efficiency programme.
"Management highlighted that the business remains focused on strategic priorities, including further enhancing investment processes within listed equities and growing fixed income and private markets capabilities," said Berenberg.
"We think that this diversification of investment offering will provide the business with more resilience and growth opportunities in the medium to long term."
The German bank, which reiterated its 'buy' rating on the stock, said its new target price reflected its new forecasts.
Reporting by Iain Gilbert at Sharecast.com
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