Citi upgrades Bridgepoint to 'buy'
Bridgepoint Group (Reg S)
328.40p
17:15 21/03/25
-2.96%
-10.00p
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
17,540.41
16:39 21/03/25
-0.11%
-19.45
FTSE 250
19,911.50
16:39 21/03/25
n/a
n/a
FTSE 350
4,718.00
16:39 21/03/25
n/a
n/a
FTSE All-Share
4,666.50
16:54 21/03/25
n/a
n/a
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.