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Investec downgrades HSBC, recommends taking profits in June

Fri, 03rd Jun 2016 07:46

(ShareCast News) - Investec downgraded HSBC to 'hold' from 'buy', pointing to just under 1% residual upside to its unchanged 450p price target."Our continuing belief that HSBC can, should and will maintain an (uncovered) 51c dividend, an implied 2016e dividend yield of 7.9% is, by itself, insufficient to sustain a 'buy' recommendation," the brokerage said."However, we believe that June could offer a number of potentially positive catalysts (Brazil disposal, Fed/Brexit decisions) which may generate profit-taking opportunities."Investec said that in both relative and absolute terms, HSBC has performed resiliently over the past few weeks. It said this may represent an element of anticipation of forthcoming events such as the Brazil disposal due to complete this month and a potential increase in US interest rates, which would be a net positive for the bank.However, the brokerage said the twin challenges of an ongoing drop in net interest margin and declining customer loans make HSBC's 10% return on equity target unrealistic.Investec said it continues to see better value in the challenger bank space generally, and for Aldermore in particular, which it rates at 'buy'.At 0811 BST, HSBC shares were up 1.3% to 452p.
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5 Feb 2020 14:21

Distribution Finance Capital Appoints White Oak Executive As CEO

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15 Jan 2020 14:21

Brewin Dolphin Hires Aldermore CEO Monks As Non-Executive Director

Brewin Dolphin Hires Aldermore CEO Monks As Non-Executive Director

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14 Mar 2018 08:43

Aldermore Group Shares Suspended Pending Company Announcement (ALLISS)

LONDON (Alliance News) - Shares in Aldermore Group PLC were suspended from trading on Wednesday at the company's request, pending an announcement.Challenger bank in

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6 Mar 2018 10:55

UPDATE 3-South Africa's FirstRand joins optimistic chorus on Ramaphosa era

* Outgoing CEO says very optimistic about future * FirstRand H1 profit growth slows to 6 pct vs 14 pct * Shares up 1.3 pct, lags rivals and broader market * Incoming CEO says

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6 Mar 2018 06:35

South African lender FirstRand reports slower H1 profit rise

JOHANNESBURG, March 6 (Reuters) - South Africa's No.1 lender by value, FirstRand, reported a 6 percent increase in half-year profit on Tuesday, a from

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16 Feb 2017 09:53

Panmure initiates coverage of challenger banks

(ShareCast News) - Panmure Gordon initiated coverage on several challenger banks on Thursday, highlighting a preference for specialist lenders as they have avoided direct competition with large UK banks and offer high growth and returns at attractive valuations. The brokerage started Aldermore, OneS

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16 Feb 2017 09:15

Thursday broker round-up

(ShareCast News) - QinetiQ: Canaccord downgrades to Hold with a target price of 285p. RBS: Deutsche Bank reiterates Underperform with a target price of 210p. Aldermore Group: Deutsche Bank reiterates Neutral with a target price of 210p. Smiths: Goldman Sachs reiterates Buy with a target price of 1

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16 Feb 2017 08:41

LONDON MARKET OPEN: Airlines Up As Cobham Suffers From Profit Warning

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7 Feb 2017 16:16

PRESS: Buy-To-Let Lender Charter Court Plans 2017 London Listing (ALLIPO)

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1 Feb 2017 15:33

Wednesday broker round-up

(ShareCast News) - SSE: Barclays reiterates overweight with a target price of 1695p. BP: HSBC reiterates buy, 590p target. Royal Dutch Shell B: Deutsche Bank reiterates buy with a 2450p target. Britvic: JP Morgan reiterates neutral with a 600p target. Intu: Deutsche Bank reiterates sell with a 2

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20 Dec 2016 10:31

WINNERS & LOSERS SUMMARY: Lloyds Shares Rise After MBNA Deal

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20 Dec 2016 09:06

Deutsche Bank ups Aldermore target price, sees further upside

(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 th

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13 Dec 2016 10:09

Liberum initiates coverage of challenger banks, prefers OneSavings

(ShareCast News) - Liberum initiated coverage of five challenger banks with three 'buy' recommendations and two 'hold' stances. The brokerage started OneSavings Bank, Shawbrook and Aldermore at 'buy' with price targets of 395p, 290p and 245p, respectively. It said OneSavings is making regulatory ch

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1 Dec 2016 12:33

Aldermore First To Use Bank Of England's New Cheap Funding Scheme

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14 Nov 2016 14:05

FTSE 250 movers: Greencore and banks gain while gold miners fall

(ShareCast News) - The FTSE 250 index was in positive territory, just shy of 17,500, by the late afternoon on Monday. Irish food company Greencore led the risers, gaining on the back of jump in full-year revenue and earnings, a hike in its dividend and the proposed acquisition of Peacock Foods for a

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