Rathbones Group Stock News

RBC Capital Markets has trimmed its price target for Rathbones Group PLC (LSE:RAT, OTC:RTBBF) to 1,950 pence from 2,400 pence, reflecting a surprise regulatory update that adds near-term uncertainty to the wealth manager's turnaround narrative. The company disclosed on 16 June that it will cease charging investment management fees on client cash and pause onboarding of new enhanced due diligenc...

Deutsche Bank has materially downgraded its earnings forecasts and price target on Rathbones Group PLC (LSE:RAT, OTC:RTBBF), the wealth manager, following Tuesday's profit warning. The bank cut its target to 1,700p from 2,100p, a reduction of 19%, while maintaining a hold rating.

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Shares in Rathbones Group PLC (LSE:RAT, OTC:RTBBF) tumbled 16.5% to 1,630p on Tuesday after the wealth manager flagged a regulatory review that found shortcomings in its UK business and will trigger £60 million of costs. The group commissioned a skilled person review, an independent assessment overseen by the Financial Conduct Authority, after engagement with the regulator.

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