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Investing.com - Barclays (LON:BARC) initiated coverage on Chesnara PLC (LON:CSN) with an Equalweight rating and set a price target of GBP3.00, according to a research note released Tuesday.
The investment bank highlighted challenges in forecast clarity inherent to acquisitive growth models like Chesnara’s, suggesting the share price will likely react to future deal announcements.
Barclays noted that Chesnara’s cash generation has significantly exceeded its IFRS earnings in recent years, indicating that increased transparency between these metrics would strengthen their assessment.
The research firm projected a potential total return of approximately 9% on Chesnara stock on a one-year forward view, which aligns with other Equalweight-rated stocks in Barclays’ European Insurance coverage.
Barclays also emphasized that continued evidence of deal synergies and consistent execution would provide additional support for their current view on the insurance company.
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