Analysts at RBC Capital Markets upgraded their recommendation for shares of Close Brothers Group from ‘sector perform’ to ‘outperform’.
In their opinion, the merchant banking group’s valuation now offered a “good entry point”.
They further pointed out how Close Brothers’ “consistency of earnings has meant that the stock has historically been defensive through recessions.”
Their target price was bumped up from 1,250.0p to 1,300.0p.
