ADN, Positive Market Updates.....2 Dec 2014 13:54
ADN Aberdeen Asset Management...........
CityWire..
Aberdeen results indicate ‘small positives’ for next year
Aberdeen Asset Management (ADN) has reported good cash generation and dividend growth with a number of ‘small positives’ expected over the coming year.
Peel Hunt analyst Stuart Duncan retained a ‘buy’ recommendation and target price of 490p on the shares after final results beat forecasts with profits hitting £490.3 million. The shares rallied 1.7% to 457.5p yesterday on the news.
‘While [the] results were largely as expected, operating cash generation remains strong, underpinning expectations of good dividend growth in the coming years,’ he said. ‘A December 2015 estimate enterprise value/ net operating profit after tax multiple of 11.7x remains attractive, with a yield of over 4%.’
Duncan noted the integration of Scottish Widows Investment Partnership was ‘progressing well and that cost synergies are ahead of expectations’.
‘The new year is reported to have started well, with client interest in the product range,’ he said.
http://citywire.co.uk/money/the-expert-view-lloyds-tesco-and-aberdeen/a787081?ref=citywire-money-latest-news-list#i=4
Chris Carson Send an email to Chris Carson View Chris Carson's profile - 02 Dec 2014 12:41 - 284 of 288
AND ANOTHER.......
Tuesday tips round-up: Iron ore miners, Aberdeen Asset Management
Tue 02 December 2014 09:27 | A A A
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Iron ore miners may be facing much the same dilemma as OPEC is, when trying to force high-cost producers out of the market. Although plummeting crude prices may force some smaller tight oil producers to stop producing for a time, the well infrastructure and technology, once developed, will remain. Indeed, creditors who take over bust shale operators and wish to maximise their cash recovery may not be dissuaded by the price falls.
Similarly, the big miners who keep shovelling iron ore out of the ground may see only limited success in forcing smaller competitors out. Even if an operation is shut, as African Minerals decided to do on Monday with one mine, the infrastructure will continue to be in place should prices revive, writes the Financial Times's Lex column.
<b>Things seem to be looking up for Aberdeen Asset Management.</b> The firm's decision to acquire Scottish Widows Investment Partnership (SWIP) in April seems to have been well-timed. It may help to rebalance the business towards UK equities. As well, the emerging markets in which it has 25% of its assets invested should benefit from the decline in oil prices, the company's chief executive believes. In particular, an improved economic performance may help to staunch the outflows from assets invested in those markets during the ye
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