Stifel upgrades Pantheon Infrastructure to 'Buy' following long price slump

The change of stance comes as the trust falls from a high point of 110.5p in April 2022 to just 90p per share last week. To complement the fall in price and resulting rise in discount, Stifel also noted a significant improvement in the trust's cash position. "PINT offers exposure to an interesting range of infrastructure co-investments across various industries, in the UK, Europe and North America," wrote Stifel analyst Iain Scouller. "Since we initiated coverage in December we are pleased to see cash-drag reduce, with net cash falling from 28% of net asset value (NAV) to circa 12%...