Saw this on Interactive Investor12 Feb 2016 16:20
Friday 19 January
Standard Life (SL.) will release 2015 year-end results on Friday, and after outperforming the falling market, Panmure Gordon reckons the company's small annuity book and diversified asset portfolio will underpin further market strength. Valuing the shares at 433p, the pensions and insurance provider has significant upside, according to analyst Barrie Cornes. He's upgraded his recommendation from 'hold' to 'buy' ahead of the results.
Pencilling in total group inflows of £8.1 billion and assets under advisement of £306 billion, improving momentum in the second half should take operating profit to £605 million, flat on the year, says Cornes. He expects a 7.5% boost to the final dividend to 12.29p, which will take the full-year dividend to 18.31p.
"The shares have fallen in line with the rest of the sector, but has outperformed on a relative basis, driven by a number of factors including the relatively small annuity book and therefore potential exposure to corporate bond defaults," adds Cornes.