Source: Sharecast
"The marked shift in the investment case of AAL last year from operational recovery to delivering on its proposed restructuring has led to a circa 30% share price outperformance since the announcement in May 2024," the bank said. "The current share price reflects a reasonable probability for bulk of its portfolio optimisation measure coming to fruition, and the corresponding re-rating of the remainco business."
Citi said the sum of the parts valuation at 2,700p a share now implies limited upside, with valuations at 6.5x estimated 2025 EBITDA at a premium to Anglo’s global diversified mining peer group.
Citi also said a potential rally in commodity prices or renewed M&A interest from the global miners were key upside risks to the stock.
Analysts at Berenberg slightly raised their target price on wealth management firm Quilter from 140.0p to 145.0p on Friday following the group's "strongest quarter of the year" for flows.
Quilter released its Q424 update on earlier in the work, where it revealed it had grown assets under management and administration to roughly £119.0bn.
Q424 also saw the highest net inflow figure of the financial year, with management highlighting that the strategic initiatives put in place over the past few years have borne fruit.
"We expect Quilter to continue to generate strong levels of flows, with the platform business – in particular – performing well," said Berenberg, which reiterated its 'hold' rating on the stock.
"However, we await clarity on the outcome of the ongoing advice evidence review, with management announcing that it will provide a progress update on this work at the FY24 results on 5 March."
