Barclays downgrades Rathbone Brothers to 'equalweight'
Rathbones Group
1,644.00p
09:29 23/12/24
0.00%
0.00p
Barclays downgraded Rathbone Brothers on Monday to ‘equalweight’ from ‘overweight’, arguing that despite a robust medium-term outlook, flows are likely to remain subdued for the remainder of the year, given pressure on key asset classes.
Financial Services
17,539.22
09:34 23/12/24
-0.21%
-36.36
FTSE 250
20,392.49
09:40 23/12/24
n/a
n/a
FTSE 350
4,463.95
09:40 23/12/24
n/a
n/a
FTSE All-Share
4,421.63
09:40 23/12/24
n/a
n/a
"This is likely to weigh on consensus estimates," the bank said. "Meanwhile, Rathbones' stark re-rating versus peers has removed the stock's clear valuation discount."
Barclays maintained its 2,200p price target on the stock.
At 1005 BST, the shares were down 1% at 2,000p.