RBC Capital lifts XPS Pensions price target
XPS Pensions Group
357.00p
15:29 18/11/24
-0.83%
-3.00p
RBC Capital Markets lifted its price target on XPS Pensions on Monday to 395p from 355p ahead of first-half results.
Financial Services
16,637.03
15:55 18/11/24
0.58%
95.36
FTSE 250
20,369.49
16:00 18/11/24
n/a
n/a
FTSE 350
4,468.85
16:00 18/11/24
n/a
n/a
FTSE All-Share
4,426.42
16:00 18/11/24
n/a
n/a
RBC said it was "marginally" increasing both revenues and costs across FY25-27, with a broadly neutral net impact on earnings.
"We update our price-to-earnings valuation multiple to 20x (from 18x) reflecting the longer-term sustainability of XPS's growth, and its extended track-record of earnings growth delivery," it said.
XPS is due to report results covering the six months to 30 September on Thursday.
RBC maintained its ‘outperform’ rating on the stock.