Skip Header
Important information: The value of investments can go down as well as up so you may get back less than you invest. Investors should note that the views expressed may no longer be current and may have already been acted upon. This is a third-party news feed and may not reflect Fidelity’s views.

Broker tips: Mattioli Woods, Deltic Energy

(Sharecast News) - Analysts at Berenberg reiterated their 'buy' rating and 870.0p target price on wealth management firm Mattioli Woods on Wednesday following the group's "solid" interim results a day earlier. Berenberg noted that Mattioli had achieved year-on-year growth in both revenues and pre-tax profits. During the half, the company also initiated a partnership with T Rowe Price, which Berenberg reckons should improve its investment product offering for clients.

"During the period, the company announced a partnership with US asset manager T Rowe Price, which will develop and advise on multi-asset funds for Mattioli's clients. This is beneficial for Mattioli given that the scale and reputation of T Rowe Price should enhance the wealth manager's investment proposition," said Berenberg.

Looking ahead, the German bank expects the company to continue to look to supplement growth with inorganic, bolt-on opportunities.

Berenberg also highlighted that Mattioli trades on roughly 12.0x forward earnings multiple.

Over at Canaccord Genuity, analysts lowered their target price on exploration and development firm Deltic Energy from 185.0p to 160.0p on Wednesday following the recent farm-out of 25% of UK licence P2437.

Deltic announced the farm-out to Dana Petroleum of a quarter of P2437, which contains the Selene exploration target scheduled to be drilled in Q3 24.

Canaccord Genuity sees the transaction as "an excellent result" for Deltic as it retains a significant 25% interest in Selene while now being effectively fully carried for the upcoming well costs.

"As a result, Deltic will have farmed out separately to two high-quality partners, first Shell and now Dana, a total of 75% of its original 100% interest in Selene. The outcome is that Deltic is now fully carried for its 25% share of the Shell estimated success case well cost of gross $47.0m (drilling and testing). Deltic expects this transaction to complete in the near future,"" said Canaccord, which reiterated its 'speculative buy' rating on the stock.

The Canadian bank added that "much more important" than its mechanical target price change was the presence of "two excellent partners", noting that Deltic has effectively fully carried Selene well participation, and the company's "still significant 25% ownership", which provides "meaningful upside" in the success case and room for a further farm-down or outright sale in the future.

Share this article

Related Sharecast Articles

Broker tips: Volution, Videndum
(Sharecast News) - Jefferies reiterated its 'buy' rating and 510.0p target price on Volution on Wednesday as it said the company's ability to drive margins higher, through both revenue mix and efficiency, is more than offsetting the challenging market backdrop to deliver ongoing earning upgrades.
Broker tips: Marlowe, Fevertree
(Sharecast News) - Analysts at Berenberg slightly lowered their target price on software and services firm Marlowe from 720.0p to 710.0p on Tuesday but said the group's divestment of certain Governance, Risk and Compliance software and service assets had left it with a "much cleaner and simpler-to-understand equity story".
Broker tips: JD Sports, NatWest
(Sharecast News) - Barclays downgraded JD Sports on Monday to 'equalweight' from 'overweight' and cut its price target for the stock to 140.0p from 165.0p after the retailer announced the acquisition of US rival Hibbett last week for $1.1bn.
Broker tips: NatWest, Pensionbee, Greggs
(Sharecast News) - Shore Capital reiterated its 'buy' rating on bank NatWest after a forecast-beating first quarter but said it sees the least amount of upside potential in the stock compared with the wider banking sector.

Important information: This information is not a personal recommendation for any particular investment. If you are unsure about the suitability of an investment you should speak to one of Fidelity’s advisers or an authorised financial adviser of your choice. When you are thinking about investing in shares, it’s generally a good idea to consider holding them alongside other investments in a diversified portfolio of assets. Past performance is not a reliable indicator of future returns.

Award-winning online share dealing

Search, compare and select from thousands of shares.

Expert insights into investing your money

Our team of experts explore the world of share dealing.