Barclays stays 'underweight' on AJ Bell, prefers IntegraFin
By Alexander Bueso
Date: Friday 23 Jul 2021
(Sharecast News) - Analysts at Barclays raised their target price for AJ Bell but stayed at 'underweight' on the shares, telling clients they preferred to play "supportive" themes in UK wealth post-Covid through adviser platform peer IntegraFin.
Nevertheless, they dubbed growth in the broker's assets under management, driven by rising platform flows and "large positive" market contribution "impressive".
They also noted the "robust" 17,000 growth in AJ Bell's new customers.
"Rising flows and robust new customer additions, despite easing COVID restrictions allowing consumers more spending opportunities, should be taken well," they explained.
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