Close Brothers Group Stock News
£3.87
1.47%
London, Sep 25, 04:35 pm BST.
Closed.
Close Brothers Group Stock News
Close brothers on Friday said chair Mike Biggs will step down in November after completing this nine year tenure at the British specialist lender and named senior independent director Mark Pain as his successor.
Shares in Close Brothers Group PLC (LSE:CBG) were down 5% at 418.82p after being downgraded by RBC Capital Markets, which cut its rating to 'sector perform' from 'outperform' and lowered its price target to 470p from 625p. Analyst Benjamin Toms said the shares could drift lower from here after a fresh setback in the long-running motor finance saga.
Shore Capital has upgraded Close Brothers Group PLC (LSE:CBG), the specialist lender and asset manager, to buy from hold, arguing that the shares now offer an attractive balance of risk and reward. The broker lifted its price target to 495p from 490p, implying upside of around 21% from the current level of 408p.
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