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Hope the ref steps in soon to prevent any further punishment!
A right pasting!
FTSE 100 falls for fourth day, with Aberdeen Asset hit by Argentina woes Emerging market concerns push asset manager and brewer SABMiller lower Share 2 inShare 1 Email Leading shares are heading lower for the fourth day, with Aberdeen Asset Management the biggest faller. The emerging markets specialist has fallen 17.8p at 403.6p after Argentina's currency plunged as its central bank abandoned its policy of supporting the peso by intervening in the foreign exchange markets. Other Latin American currencies also came under pressure.
Added a few @396 - happy to follow it down as medium term looks to be a bargain - as always time will tell
Seems hell bent on hitting that latest forecast
The share price drop is due to the issues emerging market economies face because of poor economic statistics from the USA. They're also reacting to any tapering which removes the supply of cheap US Dollars to expand their economies. As ADN invests in emerging economies, that's bad for their business, hence the SP drop. I too see the RSI low, but other chart indicators e.g. MACD are still on the way down and the SP could retrace back to lower lows e.g. 370 or even 350. So I'm keeping my options open for now and not investing. Comments please?
Looking for the details now bud.
Good move - wonder why Morgan Stanley has that downgrade?
Just joined you at 399.70. GL
Why the drop?
Perhaps not just yet!
Top up time
Date TimeTrade Prc Volume Buy/Sell Bid Ask Value 22-Jan-14 16:29:31 423.2789 550,000 Buy* 421.10 421.30 2.328M Only the guys in the know do this kind of buying so as I already said watch the SP start heading upwards again! Look at the RSI indicator on the reuters share chart (when you tick the indicator box you can select the RSI).
Based on the RSI in my opinion you have made a wise punt ! I bought in last year for £40k at 400 so still a few grand in profit anyway and confident it will retrace upwards shortly soon as the big boys decide they have made the rest of us squirm for a while and want to take over and push the SP back up.
For a punt at 426
Cant say that I am chuffed about the SP dropping but presumably some of the big boys will start dropping in and scooping up at this price! The RSI is nearly down to 30 and about to go into oversold. Wish I had the cash to buy in....there is some steady profit to be made!
Starting to look like a real bargain
Aberdeen Asset Management : JP Morgan cuts target price from 544p to 529p, while its overweight rating remains unchanged. Canaccord Genuity reduces target price from 586p to 540p and reiterates a buy recommendation. UBS lowers target price from 540p to 520p and keeps a buy recommendation.
.....we'll the brokers all seem to have the same opinion that Aberdeen Asset Management share price is value for money and should hit 600. I would be happy with that.......strong steady growth.
‘Investors looking at asset managers' shares should be buying into Jupiter, Schroders and Aberdeen this year, as major acquisitions and RDR continue to benefit the three businesses, according to JPM Cazenove analysts. ‘ ‘Turning to Aberdeen, J.P. Morgan Cazenove said the business - one of the top three stocks in terms of share price performance last year alongside Schroders and Jupiter - should continue to do well in 2014.’
£4.53 and still rising
Looking at the charts it looks like we are back on the up, probably towards £4.80-£4.90 within a short time. Plus they have their Interim Management Statement on 16 January which is expected to be good, so should add a further 5-10%
One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and fifteen have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of GBX 542.25 ($8.89).
Aberdeen Asset Management plc (LON:ADN)‘s stock had its “overweight” rating reiterated by analysts at JPMorgan Chase & Co. in a research report issued to clients and investors on Friday, Analyst RN reports. They currently have a GBX 544 ($8.92) target price on the stock. JPMorgan Chase & Co.’s target price would indicate a potential upside of 21.00% from the company’s current price.