Rare opportunity to buy Rathbones at a good price
There is a rare opportunity to purchase shares in wealth manager Rathbone Brothers (RAT) at a good price.
Shore Capital analyst Paul McGinnis retained his buy recommendation and target price of £19.40 on the stock following a meeting with Rathbones. The shares fell 7p to £18.24 yesterday.
While no material new information was disclosed, a number of current issues were discussed in more detail. The company continues to maintain operational independence between its advice, investment management and unit trust businesses, being of the view that the vertically integrated model being pursued by other wealth management participants could ultimately present regulatory or internal integration issues, he said.
We sympathise with this stance and think that clients will ultimately appreciate the independence.
He said Fridays closing price of £18.31 presented a rare opportunity to buy this premium quality discretionary fund manager,
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