UBS upgraded its stance on wealth manager St James’s Place on Friday to ‘buy’ from ‘neutral’ on valuation grounds following the recent selloff, and citing earnings support.
Source: Sharecast
The bank cut its price target on the stock to 1,465p from 1,565p.
It said St James’s Place is the cheapest UK asset gatherer, with more than 20% earnings growth.
"Incorporating some AI-related disruption still gives circa 15% upside," UBS said, adding that there are "capital return surprises ahead".
At 1505 GMT, the shares were 1.3% higher at 1,287p.
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