Barclays initiates coverage of Randall & Quilter at ‘overweight’
R&Q Insurance Holdings Ltd (DI)
1.80p
16:04 10/05/24
-13.25%
-0.28p
Barclays initiated coverage on shares of Randall & Quilter at ‘overweight’ on Wednesday, arguing the current price does not full reflect the positive fundamentals of the company’s equity story.
FTSE AIM 100
3,819.55
16:49 10/05/24
n/a
n/a
FTSE AIM All-Share
789.87
16:50 10/05/24
n/a
n/a
Insurance (non-life)
3,710.26
17:09 10/05/24
0.79%
29.04
These include the Program business reaching an inflection point; the value of the recent Legacy deals completed; and the industry-wide opportunities that now present themselves across both divisions.
The bank set a price target of 251p on the shares as it noted it’s "one of a handful of houses that cover this stock".
At 1315 GMT, the shares were up 1.9% at 186p.