Jefferies upgraded Aberdeen on Thursday to ‘buy’ from ‘hold’ and lifted the price target to 215p from 140p following the company's full-year results earlier in the week.
Abrdn
06 March 2025 11:48:18
Source: Sharecast
On Tuesday, the asset manager said it was putting the missing vowels back into its name after a widely-mocked rebrand to Abrdn four years ago, as it reported a swing into the black.
"The positive reaction to the good FY24 results, encouraging and realistic 2026 targets and the use of the DB surplus to help fund some DC obligations was probably amplified by short covering," Jefferies said.
"Nevertheless, we increase our PT to 215p on our new forecasts and higher multiples ascribed to the operating segments."
The bank said it can see Aberdeen return to growth, underpinned by Interactive Investor in the near turn.
"The cosmetic change to the name is welcome too, upgrade to buy," it said.
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.