Aberdeen Group Progress Underpins Potential for Future Upgrades
Dow Jones16:46
0845 GMT - Aberdeen Group still has the opportunity for future upgrades and a rerating, Peel Hunt analysts Rae Maile and Ross Luckman say in a note. The asset manager reiterates guidance for profit of at least 300 million pounds, and capital generation of about the same amount, with analyst estimates reflecting that too. Although consensus for the current year has risen to meet those longstanding estimates, little is expected for subsequent periods, the analysts say. "The company maintaining profit guidance is another useful reminder of the change management is delivering," the analysts say. Shares are down 3.5% at 226.80 pence and are up 13% over the past 12 months.
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