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Deutsche Bank ups Aldermore target price, sees further upside

Tue, 20th Dec 2016 09:06

(ShareCast News) - Deutsche Bank upped its price target on challenger bank Aldermore to 257p from 194p as it reiterated its 'buy' rating on the stock.It noted the shares are up 38% since the beginning of September amid an improved perception of the UK economy and following a better-than-expected third quarter."We think there is still upside from here, driven in particular by falling funding costs," Deutsche said."On today's advertised deposit rates, we estimate a flow cost of deposits of around 1%, compared with 1.8% at 1H16. We expect the majority of this benefit to flow through over the next two years, helping offset asset pricing pressure and providing Aldermore with a stronger buffer against falling margins than other UK peers."The bank said key downside risks include deterioration in the UK economy or market sentiment, slower loan growth, asset price compression, higher loan losses/UK recession, a material fall in house prices and higher capital requirements.At 0915 GMT, the shares were up 3.7% to 236.70p.
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29 Jun 2015 12:45

Aldermore appoints Robert Sharpe as non-executive director

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9 Jun 2015 08:32

BROKER RATINGS SUMMARY: HSBC Upgrades IAG To Buy From Hold

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4 Jun 2015 07:23

LONDON MORNING BRIEFING: Horse Hill Companies Shares Suspended

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3 Jun 2015 16:23

Inmarsat To Replace Aggreko In FTSE 100 Amid Host Of FTSE 250 Changes

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2 Jun 2015 14:23

Inmarsat To Re-Enter FTSE 100 While Meggit Set To Exit

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14 May 2015 08:42

Aldermore On Track For Lending Target After First Quarter Growth

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20 Apr 2015 11:20

Broker tips: Lloyds, Aldermore, Aveva

News that the Conservatives want to sell discounted shares in Lloyds to the public if they win the election should not alter the investment case for the bank, according to Investec. However, the broker kept a 'hold' rating on the stock, saying that the inevitable sale of the government's stake, whoe

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20 Apr 2015 09:38

Aldermore "well positioned" but Credit Suisse shows caution

Challenger bank Aldermore has an interesting growth story, according to Credit Suisse, though the broker initiated coverage with a 'neutral' rating. The Swiss bank said the main attraction of Aldermore is its "simple and legacy-free business model, well-positioned to tap into the high profitability

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1 Apr 2015 11:25

Shawbrook Trading Up After GBP725 Million London Float (ALLIPO)

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1 Apr 2015 08:14

Specialist UK bank Shawbrook rallies in stunning stock market debut

Specialist British bank Shawbrook made a stunning stock market debut on Wednesday in London with shares rallying to 305p, well above the top of its preset price range of 290p. Shawbrook is seen as a new breed of British bank entering a market dominated by big institutions like Royal Bank of Scotland

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20 Mar 2015 14:20

DIRECTOR DEALINGS SUMMARY: AO World Chairman Sells 5.6 Million Shares

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18 Mar 2015 10:41

CORRECT (Mar 17): DIRECTOR DEALINGS: Aldermore Group Non-Executives Buy Shares

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17 Mar 2015 17:33

DIRECTOR DEALINGS: Aldermore Group Non-Executives Buy Shares

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16 Mar 2015 18:07

DIRECTOR DEALINGS: Aldermore Non-Executive Director Buys 20,000 Shares

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