RBC sees 'good entry point' into Close Brothers Group, upgrades shares
Close Brothers Group
418.20p
16:35 28/03/24
4.24%
17.00p
Analysts at RBC Capital Markets upgraded their recommendation for shares of Close Brothers Group from 'sector perform' to 'outperform'.
Banks
3,803.92
17:14 28/03/24
0.51%
19.35
FTSE 250
19,884.73
17:14 28/03/24
n/a
n/a
FTSE 350
4,383.21
17:14 28/03/24
n/a
n/a
FTSE All-Share
4,338.05
16:50 28/03/24
n/a
n/a
In their opinion, the merchant banking group's valuation now offered a "good entry point".
They further pointed out how Close Brothers' "consistency of earnings has meant that the stock has historically been defensive through recessions."
Their target price was bumped up from 1,250.0p to 1,300.0p.