Canaccord Genuity Initiates Coverage on Ashmore Group (ASHM)
Stock analysts at Canaccord Genuity initiated coverage on shares of Ashmore Group (LON:ASHM) in a report released on Friday. The brokerage set a “buy” rating and a GBX 410 ($5.49) price target on the investment management service provider’s stock. Canaccord Genuity’s price objective would suggest a potential upside of 9.30% from the stock’s current price.
Several other research firms have also commented on ASHM. Peel Hunt reiterated an “add” rating and issued a GBX 400 ($5.36) price objective on shares of Ashmore Group in a research note on Friday, October 13th. Numis Securities reissued a “hold” rating and set a GBX 320 ($4.29) target price on shares of Ashmore Group in a research report on Thursday, September 7th. Societe Generale reduced their target price on shares of Ashmore Group from GBX 370 ($4.96) to GBX 365 ($4.89) and set a “hold” rating for the company in a research report on Wednesday, September 13th. J P Morgan Chase & Co increased their target price on shares of Ashmore Group from GBX 310 ($4.15) to GBX 350 ($4.69) and gave the company an “underweight” rating in a research report on Monday, October 16th. Finally, Shore Capital reissued a “hold” rating on shares of Ashmore Group in a research report on Friday, October 13th. Four research analysts have rated the stock with a sell rating, ten have given a hold rating and four have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of GBX 362.53 ($4.86).
Shares of Ashmore Group (LON:ASHM) traded down GBX 0.10 ($0.00) during trading on Friday, hitting GBX 375.10 ($5.02). 4,666,555 shares of the company traded hands, compared to its average volume of 920,613. Ashmore Group has a one year low of GBX 274.08 ($3.67) and a one year high of GBX 392.20 ($5.25).
Ashmore Group Company Profile
Ashmore Group plc is a United Kingdom-based company, which operates as a specialist emerging markets asset manager. The Company offers a range of investment themes, such as external debt, local currency, corporate debt, blended debt, equities, alternatives, multi-strategy and overlay/liquidity. Its geographical segments include United Kingdom, United States and Others.
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