Citi upgrades Bridgepoint to 'buy'
Bridgepoint Group (Reg S)
338.40p
17:15 20/03/25
2.42%
8.00p
Bridgepoint gained on Wednesday after an upgrade to ‘buy’ from ‘neutral’ at Citi, which said the risk-reward looks attractive following recent underperformance.
Financial Services
17,559.86
17:09 20/03/25
2.53%
432.86
FTSE 250
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17:09 20/03/25
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4,749.79
17:09 20/03/25
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FTSE All-Share
4,697.93
16:44 20/03/25
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Citi, which lifted the price target to 410p from 390p, said: "Bridgepoint shares have lagged peers and the sector YTD, which is a surprise, particularly following what in our view was a highly constructive FY24 update."
The bank cited strong operating trends and said it expects Bridgepoint to deliver fee-related earnings growth similar to peers, but despite this the shares are trading at an above-average discount versus history, which seems "unwarranted".
At 1235 GMT, the shares were up 3.3% at 331.40p.