Barclays initiates coverage of Randall & Quilter at ‘overweight’

Barclays initiated coverage on shares of Randall & Quilter at ‘overweight’ on Wednesday, arguing the current price does not full reflect the positive fundamentals of the company’s equity story.

These include the Program business reaching an inflection point; the value of the recent Legacy deals completed; and the industry-wide opportunities that now present themselves across both divisions.

The bank set a price target of 251p on the shares as it noted it’s "one of a handful of houses that cover this stock".

At 1315 GMT, the shares were up 1.9% at 186p.