Broker forecasts10 Jun 2024 20:47
Thought I'd put a post up, as there hasn't been anything since the nmemonic change from ICP to ICG.
Courtesy of Citywide
Buy’ Intermediate Capital, says Peel Hunt
Intermediate Capital Group (ICG) has delivered ‘positive momentum’ in its results, which can provide a tailwind for the share price, says Peel Hunt.
Analyst Robert Sage retained his ‘buy’ recommendation and increased his target price from £21.41 to £27 on the private equity group, which climbed 1.1% to £23.16 on Thursday.
It reported strong full-year 2024 results, with revenues up 57% in the year to the end of March, while pre-tax profits more than doubled to £598m and was 23% above consensus.
‘Ongoing positive momentum in the results provide a tailwind for the share price and we expect growth to accelerate as and when market conditions improve,’ said Sage.
‘Valuations multiples provide support as we see scope for the low double-digit price to earnings to rise to at least mid-teens levels in the medium term.’"
Other broker targets are Citygroup £26
and Canacord Genuity £30.36
Ft.com has a median target of £25.50
Roll on the next update on July 16th , (from memory ?)