Royal Bank Of Canada Lowers Aberdeen Asset Management plc (ADN) to Underperform
Aberdeen Asset Management plc (LON:ADN) was downgraded by equities researchers at Royal Bank Of Canada to an “underperform” rating in a research note issued to investors on Thursday. They presently have a GBX 320 ($4.18) price objective on the stock, up from their previous price objective of GBX 305 ($3.98). Royal Bank Of Canada’s target price indicates a potential downside of 5.99% from the stock’s current price.
Other equities analysts have also issued research reports about the stock. Beaufort Securities restated a “buy” rating on shares of Aberdeen Asset Management plc in a research report on Tuesday, September 13th. Numis Securities Ltd upped their price objective on shares of Aberdeen Asset Management plc from GBX 279 ($3.64) to GBX 300 ($3.92) and gave the company a “hold” rating in a report on Monday, July 25th. Jefferies Group dropped their price objective on shares of Aberdeen Asset Management plc from GBX 253 ($3.30) to GBX 240 ($3.13) and set a “hold” rating on the stock in a report on Wednesday, July 6th. Peel Hunt downgraded shares of Aberdeen Asset Management plc to a “hold” rating and set a GBX 330 ($4.31) price objective on the stock. in a report on Monday, July 25th. Finally, Goldman Sachs Group Inc. reaffirmed a “neutral” rating and set a GBX 330 ($4.31) price objective on shares of Aberdeen Asset Management plc in a report on Friday, July 15th. Seven research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of GBX 281.21 ($3.67).
Shares of Aberdeen Asset Management plc (LON:ADN) traded up 0.77% during midday trading on Thursday, hitting GBX 340.40. 3,949,072 shares of the company traded hands. The stock’s market capitalization is GBX 4.37 billion. Aberdeen Asset Management plc has a 52 week low of GBX 208.50 and a 52 week high of GBX 376.60. The stock has a 50 day moving average of GBX 329.45 and a 200-day moving average of GBX 298.48.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at http://www.americanbankingnews.com/2016/10/07/royal-bank-of-canada-lowers-aberdeen-asset-management-plc-adn-to-underperform.html
In other Aberdeen Asset Management plc news, insider Gilbert,Martin J sold 1,631,343 shares of the stock in a transaction that occurred on Thursday, September 15th. The shares were sold at an average price of GBX 325 ($4.24), for a total transaction of £5,301,864.75 ($6,920,590.98). Also, insider Julie Chakraverty purchased 3,042 shares of Aberdeen Asset Management plc stock in a transaction on Monday, September 26th. The shares were acquired at an average price of GBX 326 ($4.26) per share, for a total transaction of £9,916.92 ($12,944.68).
About Aberdeen Asset Management plc
Aberdeen Asset Management PLC is a United Kingdom-based global asset management company engaged in the active management of financial assets. It manages assets for both institutional and retail clients. The Company’s institutional clients include pension funds, corporates, sovereign wealth funds, government agencies and insurance companies.
Receive News & Ratings for Aberdeen Asset Management plc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Aberdeen Asset Management plc and related companies with MarketBeat.com's FREE daily email newsletter.