By Michele Maatouk
Date: Monday 18 Nov 2024
LONDON (ShareCast) - (Sharecast News) - RBC Capital Markets lifted its price target on XPS Pensions on Monday to 395p from 355p ahead of first-half results.
RBC said it was "marginally" increasing both revenues and costs across FY25-27, with a broadly neutral net impact on earnings.
"We update our price-to-earnings valuation multiple to 20x (from 18x) reflecting the longer-term sustainability of XPS's growth, and its extended track-record of earnings growth delivery," it said.
XPS is due to report results covering the six months to 30 September on Thursday.
RBC maintained its 'outperform' rating on the stock.
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