Berenberg lowers target price on Liontrust Asset Management

(Sharecast News) - Analysts at Berenberg lowered their target price on Liontrust Asset Management from 320p to 260p on Wednesday, even as net outflows reduced in its third quarter.

Liontrust released its Q3 assets under management and advice update on Wednesday and, in the update, reported that net outflows had reduced versus both Q325 and Q226, despite elevated outflows in October due to budget uncertainty.

Looking at Liontrust's net outflows by month, Berenberg said the trajectory of its underlying outflows "appears to be improving" and, while performance at larger funds was "still challenging", added that performance across the wider fund range "also seems to be turning a corner".

The German bank, which reiterated its 'hold' rating on the stock, noted that there was no progress update on Liontrust's new mandate pipeline in the statement, but stated the new mandate wins in Q3 gave it confidence that further mandates can be converted during 2026.

Reporting by Iain Gilbert at Sharecast.com

Liontrust Asset Management