(Sharecast News) – Barclays upgraded its stance on Schroders on Thursday as it took a look at European diversified financials.
The bank lifted Schroders to ‘overweight’ from ‘equalweight’ and upped the price target to 530p from 510p.
“We change our preference among the large, conventional asset managers, moving Schroders to OW due to a combination of the key takeaways from our on-the-ground China work, our positive view on the UK wealth segment and its weakened valuation,” it said.
In the same note, Barclays downgraded French asset manager Amundi to ‘equalweight’ from ‘overweight’ and cut the price target to €68 from €74on the back of China-sourced and Italy-based concerns.
