Jefferies, which holds a ‘Buy’ rating on AJ Bell, has raised its valuation on the investment platform after it beat the broker’s assets under administration estimates.
In a fourth quarter trading statement on Thursday (18 January), the platform reported that its AUA had hit a record £76.2bn, following a 15% surge of net inflows into its platform business over 2023. Following the update, Jefferies equity analysts Julian Roberts, Tom Mills, Laura Gris Trillo and Fangfei Li have boosted AJ Bell's valuation by 3% to 390p and lifted the revenue forecasts for the company by 4% and 5% for the 2024 and 2025 financial year, respectively. Consumer Duty risks drive Hargreaves Lansdown and AJ Bell 'Sell' rating from UBS In a letter to investment platform pr...
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