LONDON (ShareCast) - (Sharecast News) - RBC Capital Markets upped its price target on JTC to 770p from 760p on Thursday as it adjusted its forecasts for the acquisition of South Dakota Trust Company (SDTC) and placing.
"The deal continues JTC's M&A spree and looks to be good business in terms of its high growth, customer longevity and high margins," it said.

"We continue to be fans of the company, although it is becoming a more diverse outsourcing business, whilst return on invested capital has been impacted by recent M&A."

RBC rates the shares at 'sector perform'.

JTC announced last week that it was buying SDTC, a US firm that provides administration services to the personal trust sector, for $270m in cash and shares.

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