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Aberdeen Asset Management boosted by RBC Capital upgrade

Wed, 08th Feb 2017 09:26

(ShareCast News) - RBC Capital Markets has upgraded Aberdeen Asset Management to 'sector perform' from 'underperform' but trimmed the target price to 285p from 290p.The bank said the risk in the near term is to the upside based upon an oversold share price, a reasonable valuation, a high dividend yield, stabilising revenue margin, well controlled cost base, and the real possibility of M&A."Aberdeen's negatives are well-known by the market and more than reflected in the share price; we thus believe an upward redistribution of analyst ratings is more likely than an increase in the negative bias of the distribution."RBC said the biggest risk remains a recovery in net flows. Aberdeen has experienced around £80bn in net outflows in the last nine quarters alone, and since the beginning of full-year 2014, equity net outflows are around £50bn."Despite these staggering statistics and our forecast for elevated net outflows in FY17E, we anticipate a material recovery in flows in FY18E. Should flows not recover as we anticipate, today's upgrade could be premature."At 0935 GMT, the shares were up 3.1% to 258.60p.
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13 Dec 2016 13:12

Tuesday broker round-up

(ShareCast News) - British Land: Barclays reiterates overweight with a target price of 740p. GlaxoSmithKline: UBS reiterates neutral, 1600p target. Reckitt Benckiser: Jefferies reiterates buy with a 7750p target. GB Group: Berenberg reiterates buy with a 340p target. Great Portland Estates: Barcl

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13 Dec 2016 11:19

MOVES-Standard Life hires Struthers as head of investments

By Steve Slater LONDON, Dec 13 (IFR) - Standard Life Investments has hired Archie Struthers from Aberdeen Asset Management to be its head of investments. Struthers will join Standard Life Investments on January 9. He was global head of investment solutions at Aberdeen. Struthers

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13 Dec 2016 11:03

Standard Life Hires Head Of Investments From Aberdeen Asset Management

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1 Dec 2016 16:11

UK Dividends Calendar - Next 7 Days

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1 Dec 2016 09:31

BROKER RATINGS SUMMARY: Credit Suisse Raises BP To Outperform

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29 Nov 2016 12:09

LONDON MARKET MIDDAY: Stocks Mixed Before OPEC Meeting And Italy Vote

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29 Nov 2016 11:35

Aberdeen's emerging market recovery likely to stall, Merrill warns

(ShareCast News) - Although this week's results were better than expected, Bank of America Merrill Lynch downgraded Aberdeen Asset Management to a 'neutral' rating as it thinks the flow of investor money into the company's emerging markets sweetspot is likely to stall. Aberdeen had highlighted an im

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28 Nov 2016 18:06

Britain's FTSE index slips as Trump rally falters

* FTSE 100 closes down 0.6 percent * Banks and energy shares lead declines * Utilities gain as investors back safe stocks (ADVISORY- Follow European and UK stock markets in real time on the Reuters Live Markets blog on Eikon, see cpurl://apps.cp./cms/?pageId=livemarkets) By Pe

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28 Nov 2016 10:35

WINNERS & LOSERS SUMMARY: Fear Of Italian 'No' Vote Weighs On Banks

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28 Nov 2016 10:08

UPDATE 2-Cautious Aberdeen Asset Management cushions profit fall with asset rise

* Revenues down 14 pct to 1 bln stg * On track to meet 70 mln stg in cost cuts * Shares up 2.5 pct (Recasts, adds detail from statement, share reaction, CEO quote) By Simon Jessop LONDON, Nov 28 (Reuters) - Aberdeen Asset Management's assets rose during its latest finan

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28 Nov 2016 10:01

European shares dragged lower by oil stocks, Italian banks

(Follow European and UK stock markets in real time on the Reuters Live Markets blog on Eikon - see cpurl://apps.cp./cms/?pageId=livemarkets) Adds details, updates prices) * Pan-European STOXX index down 0.8 pct * Oil stocks hit by concerns over crude output cut deal * Italian b

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28 Nov 2016 07:19

Aberdeen AM maintains dividend despite increased outflows

(ShareCast News) - Annual profits fell by more than a quarter at Aberdeen Asset Management as its funds under management were hit by almost £33bn of outflows, which have continued in the new financial year but have begun to improve. With net revenue down 14% to £1.0bn in the year to 30 September, un

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21 Nov 2016 16:03

UK Earnings, Trading Statements Calendar - Next 7 Days

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21 Nov 2016 09:43

Pioneer's 3.5 bln euro price tag too much for Aberdeen -Bloomberg

Nov 21 (Reuters) - Aberdeen Asset Management's chief executive said Italian bank UniCredit had priced its Pioneer fund unit too high at 3.5 billion euros ($3.7 billion), prompting the British firm to drop a takeover bid, Bloomberg reported on Monday. Martin Gilbert said the firm was through

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18 Nov 2016 07:46

UK asset managers breath sigh of relief after 'benign' FCA probe

(ShareCast News) - The financial watchdog is planning a tougher clampdown on UK asset management companies as it feels the sector has enjoyed big profits for many year by not competing very hard on prices and fees, though analysts said the industry will breathe a sigh of relief at the lack of bite f

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