Latest News

JPMorgan upgrades Intermediate Capital Group to ‘overweight’


JPMorgan upgrades Intermediate Capital Group to ‘overweight’ By Sharecast

Breaking News


Stock Markets

Published Nov 21, 2023 09:56
Updated Nov 21, 2023 10:11

JPMorgan upgrades Intermediate Capital Group to ‘overweight’

Sharecast – The bank said ICG surprised it positively last week, delivering a better-than-expected deployment in its private debt funds as well as better-than-expected net investment returns on its balance sheet portfolio.

“In addition, ICG has several new strategies on the pipeline, which we have now incorporated in our fund by fund detailed model,” it said.

JPM said that even though the shares are around 20% higher than when it initially relaunched its recommendation in March, it believes the still low price-to-earnings multiple, as well as earnings upgrades – mainly due to better net investment returns but also higher expected FMC earnings – leave more room for outperformance.

JPM lifted its pre-tax profit estimates by 36% in FY24E, 7% in FY25E, 15% in FY26E and 23% in FY27E.

At 0955 GMT, the shares were up 2.2% at 1,565p.


JPMorgan upgrades Intermediate Capital Group to ‘overweight’

Our Apps

Terms And Conditions
Privacy Policy
Risk Warning
Do not sell my personal information

© 2007-2023 Fusion Media Limited. All Rights Reserved.

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.

Europe Car Registrations Surge 14.6%

Previous article

Fed minutes ahead, Nvidia to report, OpenAI turmoil – what’s moving markets

Next article

You may also like


Leave a reply

Your email address will not be published. Required fields are marked *

More in Latest News