LONDON (ShareCast) - (Sharecast News) - RBC Capital Markets upgraded Schroders on Wednesday to 'outperform' from 'sector perform' ahead of full-year results on 6 March.
It said an evolution of the growth strategy from the new chief executive at the results is a potential catalyst for both consensus earnings upgrades and a price-to-earnings multiple expansion.

The bank said that trading in the vicinity of their 10-year trough P/E multiple at 10.6x, the shares provide "sufficiently more upside, than downside ahead of the event", hence the upgrade.

RBC lifted its price target on the stock to 395p from 330p.

The bank said it is in line with Visible Alpha consensus for FY24 operating profit, net flows and dividend per share, with its optimism based on a potential refocusing of the growth strategy.

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