Barclays stays 'underweight' on AJ Bell, prefers IntegraFin
AJ Bell
306.00p
08:34 23/04/24
0.82%
2.50p
Analysts at Barclays raised their target price for AJ Bell but stayed at 'underweight' on the shares, telling clients they preferred to play "supportive" themes in UK wealth post-Covid through adviser platform peer IntegraFin.
Financial Services
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08:34 23/04/24
1.04%
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08:35 23/04/24
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4,425.07
08:35 23/04/24
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IntegraFin Holding
294.50p
08:29 23/04/24
0.68%
2.00p
Nevertheless, they dubbed growth in the broker's assets under management, driven by rising platform flows and "large positive" market contribution "impressive".
They also noted the "robust" 17,000 growth in AJ Bell's new customers.
"Rising flows and robust new customer additions, despite easing COVID restrictions allowing consumers more spending opportunities, should be taken well," they explained.