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Investing.com - Berenberg has upgraded Quilter Plc. (LON:QLT) from Hold to Buy and raised its price target to GBP1.95 from GBP1.50, citing the company’s successful transformation efforts.
The upgrade follows what Berenberg describes as a "material acceleration of inflows of client assets" at Quilter over the past 18 months, demonstrating the effectiveness of the company’s ongoing transformation initiatives.
Berenberg noted that Quilter maintains a strong position in the UK wealth management market, which the firm expects to experience growth in the coming years.
The revised price target of GBP1.95 represents a 30% increase from the previous target of GBP1.50, reflecting Berenberg’s updated forecasts and more optimistic outlook for Quilter’s business prospects.
The rating change comes as Quilter continues to strengthen its market position in the UK wealth management sector through its transformation strategy.
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