FTSE 250 movers: Moneysupermarket lifted by Liberum upgrade
By Michele Maatouk
Date: Tuesday 05 Jul 2022
(Sharecast News) - London's FTSE 250 was down 1.4% at 18,337.16 in afternoon trade on Tuesday.
Moneysupermarket rallied after Liberum upgraded the stock as it took a look at online platforms.
The broker lifted Moneysupermarket to 'buy' from 'hold' "from a valuation perspective and given increased M&A risk.
More broadly, Liberum said its online platforms coverage has de-rated by 32% year-to-date due to the market rotation away from growth. Following this de-rating, the broker's coverage is trading on a 38% discount to its historic average multiples.
"We think this is an attractive opportunity to get exposure to these companies. Additionally, we believe that the chances of opportunistic M&A have increased, and we flag Moneysupermarket as the most likely target."
Online fashion retailer Asos was also in the black after an upgrade to 'neutral' from 'underperform' at Exane BNP Paribas.
FTSE 250 - Risers
Moneysupermarket.com Group (MONY) 181.70p 3.36%
Ascential (ASCL) 270.20p 3.05%
Synthomer (SYNT) 227.20p 2.16%
Genus (GNS) 2,582.00p 1.65%
Hammerson (HMSO) 19.36p 1.47%
LondonMetric Property (LMP) 228.80p 1.42%
Polymetal International (POLY) 185.00p 1.09%
Jlen Environmental Assets Group Limited NPV (JLEN) 124.40p 0.97%
Vivo Energy (VVO) 147.00p 0.96%
ASOS (ASC) 898.50p 0.84%
FTSE 250 - Fallers
Hochschild Mining (HOC) 86.75p -7.42%
TI Fluid Systems (TIFS) 144.20p -5.50%
Just Group (JUST) 65.60p -5.41%
Wood Group (John) (WG.) 147.05p -5.40%
Investec (INVP) 414.70p -5.34%
TUI AG Reg Shs (DI) (TUI) 125.45p -5.29%
Ferrexpo (FXPO) 121.60p -5.15%
Morgan Advanced Materials (MGAM) 265.00p -5.02%
Chrysalis Investments Limited NPV (CHRY) 89.00p -5.02%
Energean (ENOG) 1,013.00p -4.97%
Email this article to a friend
or share it with one of these popular networks:
You are here: news
10 Lower Thames St,
London EC3R 6EN