Berenberg Bank Upgrades Quilter (LON:QLT) to Buy

Key Points

• Quilter has been upgraded to a "buy" rating by Berenberg Bank, with a new price target of GBX 195 ($2.63), indicating a potential upside of 18.54% from its previous close.
• The stock has been rated by various analysts, with the consensus rating currently at "Moderate Buy" and an average price target of GBX 177.20 ($2.39).
• As of Tuesday, Quilter's shares traded at GBX 164.50 ($2.22), improving by 0.9% in the trading session.

Quilter (LON:QLT - Get Free Report) was upgraded by stock analysts at Berenberg Bank to a "buy" rating in a research note issued on Tuesday, Marketbeat reports. The firm presently has a GBX 195 ($2.64) target price on the stock, up from their prior target price of GBX 150 ($2.03). Berenberg Bank's target price would indicate a potential upside of 17.05% from the company's previous close.

A number of other research analysts have also weighed in on the stock. Jefferies Financial Group lifted their price objective on shares of Quilter from GBX 175 ($2.37) to GBX 193 ($2.62) and gave the company a "buy" rating in a research note on Thursday, August 7th. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Quilter from GBX 165 ($2.24) to GBX 155 ($2.10) and set a "hold" rating for the company in a research note on Wednesday, August 6th. JPMorgan Chase & Co. lifted their price objective on shares of Quilter from GBX 164 ($2.22) to GBX 177 ($2.40) and gave the company an "overweight" rating in a research note on Wednesday, July 16th. Finally, Citigroup raised their price target on shares of Quilter from GBX 140 ($1.90) to GBX 166 ($2.25) and gave the company a "neutral" rating in a report on Thursday, July 10th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of GBX 178.20 ($2.42).

Quilter Stock Performance

Shares of QLT stock traded up GBX 0.50 ($0.01) during trading hours on Tuesday, hitting GBX 166.60 ($2.26). 555,516 shares of the company were exchanged, compared to its average volume of 4,099,176. The firm has a fifty day simple moving average of GBX 161.97 and a 200 day simple moving average of GBX 152.52. The company has a current ratio of 1.18, a quick ratio of 0.05 and a debt-to-equity ratio of 18.69. Quilter has a 52-week low of GBX 119.70 ($1.62) and a 52-week high of GBX 173.20 ($2.35). The stock has a market capitalization of £2.22 billion, a price-to-earnings ratio of 44.80, a P/E/G ratio of 2.50 and a beta of 1.05.

Quilter (LON:QLT - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The company reported GBX 5.60 ($0.08) earnings per share (EPS) for the quarter. Quilter had a net margin of 0.78% and a return on equity of 3.33%. Research analysts predict that Quilter will post 9.004676 earnings per share for the current fiscal year.

About Quilter

Quilter is a leading UK and cross-border full-service wealth management business, whose purpose is to help create prosperity for the generations of today and tomorrow. It has leading positions in one of the world's largest wealth markets, and its multi-channel proposition and investment performance are delivering attractive growth.