Investment accounts
Adult accounts
Child accounts
Choosing Fidelity
Choosing Fidelity
Why invest with us Current offers Fees and charges Open an account Transfer investments
Financial advice & support
Fidelity’s Services
Fidelity’s Services
Financial advice Retirement Wealth Management Investor Centre (London) Bereavement
Guidance and tools
Guidance and tools
Choosing investments Choosing accounts ISA calculator Retirement calculators
Shares
Share dealing
Choose your shares
Tools and information
Tools and information
Share prices and markets Chart and compare shares Stock market news Shareholder perks
Pensions & retirement
Pensions, tax & tools
Saving for retirement
Approaching / In retirement
Approaching / In retirement
Speak to a specialist Creating a retirement plan Taking tax-free cash Pension drawdown Annuities Investing in retirement Investment Pathways
FTSE 250 movers: Babcock gains after JPM lifts target price
(Sharecast News) - FTSE 250 (MCX) 19,169.93 0.34%
Babcock shot higher on Thursday as JPMorgan Cazenove lifted its price target on the shares to 630p from 610p and upped its earnings per share estimates following the company's capital markets day.
JPM increased YE March 2024-27 earnings per shares estimates by around 3% per annum, leaving it 6%/11%/11%/8% above Bloomberg median consensus in these four years.
The bank said its higher forecasts are driven by three takeaways from the CMD.
Firstly, the scope of infrastructure work in Babcock's Devonport dockyard is greater than it expected.
Secondly, it pointed to the fact that Babcock has around £100m of incremental revenue from building military land vehicles, and thirdly, it noted the "overall positive tone" of the presentations.
JPM, which rates Babcock at 'overweight', said it thinks the 9% decline in the share price was a "very strange" reaction to the CMD, leaving Babcock "meaningfully" undervalued versus European defence peers and providing "a very attractive" entry point for investors.
Ashmore rallied a day after it reported that nervous investors pulled billions of dollars from the specialist asset manager's funds at the end of 2023.
Assets under management (AuM) were $54.0bn in the six months to 31 December, down 10% on the same period a year earlier.
Positive investment performance added $2.6bn to AuM during the period, but it was not enough to offset outflows of $4.5bn.
Media business Future gained after reporting on Wednesday that year-to-date trading had been "broadly in line with expectations", despite seeing a slowdown in digital advertising revenues and pressure from FX swings.
Market Movers
FTSE 250 - Risers
Ashmore Group (ASHM) 229.00p 8.33% Babcock International Group (BAB) 456.00p 7.50% Future (FUTR) 699.00p 5.11% Me Group International (MEGP) 134.20p 4.03% Tullow Oil (TLW) 30.08p 3.72% Syncona Limited NPV (SYNC) 119.60p 3.46% Bridgepoint Group (Reg S) (BPT) 268.20p 3.39% Apax Global Alpha Limited (APAX) 157.00p 3.02% AJ Bell (AJB) 326.80p 2.96% Bytes Technology Group (BYIT) 647.50p 2.70%
FTSE 250 - Fallers
Bluefield Solar Income Fund Limited (BSIF) 105.20p -3.49% Darktrace (DARK) 351.20p -2.63% Kainos Group (KNOS) 1,118.00p -2.19% Aberforth Smaller Companies Trust (ASL) 1,316.00p -1.94% NextEnergy Solar Fund Limited Red (NESF) 78.70p -1.87% Redde Northgate (REDD) 338.00p -1.74% RIT Capital Partners (RCP) 1,858.00p -1.69% GCP Infrastructure Investments Ltd (GCP) 70.50p -1.67% Bakkavor Group (BAKK) 95.40p -1.65% Barr (A.G.) (BAG) 543.00p -1.63%
Share this article
Related Sharecast Articles
Important information: This information is not a personal recommendation for any particular investment. If you are unsure about the suitability of an investment you should speak to one of Fidelity’s advisers or an authorised financial adviser of your choice. When you are thinking about investing in shares, it’s generally a good idea to consider holding them alongside other investments in a diversified portfolio of assets. Past performance is not a reliable indicator of future returns.
Award-winning online share dealing
Search, compare and select from thousands of shares.
Expert insights into investing your money
Our team of experts explore the world of share dealing.
Policies and important information
Accessibility | Conflicts of interest statement | Consumer Duty Target Market | Consumer Duty Value Assessment Statement | Cookie policy | Diversity, Equity & Inclusion | Doing Business with Fidelity | Diversity, Equity & Inclusion Reports | Investing in Fidelity funds | Legal information | Modern slavery | Mutual respect policy | Privacy statement | Remuneration policy | Staying secure | Statutory and Regulatory disclosures | Whistleblowing programme
Please remember that past performance is not necessarily a guide to future performance, the performance of investments is not guaranteed, and the value of your investments can go down as well as up, so you may get back less than you invest. When investments have particular tax features, these will depend on your personal circumstances and tax rules may change in the future. This website does not contain any personal recommendations for a particular course of action, service or product. You should regularly review your investment objectives and choices and, if you are unsure whether an investment is suitable for you, you should contact an authorised financial adviser. Before opening an account, please read the ‘Doing Business with Fidelity’ document which incorporates our client terms. Prior to investing into a fund, please read the relevant key information document which contains important information about the fund.
This website is issued by Financial Administration Services Limited, which is authorised and regulated by the Financial Conduct Authority (FCA) (FCA Register number 122169) and registered in England and Wales under company number 1629709 whose registered address is Beech Gate, Millfield Lane, Lower Kingswood, Tadworth, Surrey, KT20 6RP.
