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FTSE 250 movers: Stellar Jupiter jumps on upgrade; Pets at Home tanks
(Sharecast News) - FTSE 250 (MCX) 21,704.52 0.39%
Jupiter Fund Management surged on Thursday as Peel Hunt upgraded the shares to 'buy' from 'add' and hiked the price target to 156p from 90p.
It said Peel Hunt's acquisition of CCLA - a manager of money for UK charities - will drive earnings growth. Analyst Stuart Duncan said upgrades don't come much bigger than this.
He said the CCLA acquisition appears strategically sensible and delivers the scale needed. Combining performance fees this year and the acquisition next year, the broker lifted forecasts for FY25/26/27 by 83%, 51% and 66%, respectively.
It said that regardless of the flow environment, Jupiter is set to deliver attractive earnings growth in the coming years.
Pets at Home tanked as it announced the immediate departure of chief executive Lyssa McGowan and downgraded its full-year profit guidance.
Renishaw gained as the engineering company reported record full-year revenues, with adjusted profits rising despite ongoing macroeconomic pressures and restructuring costs.
Inchcape advanced as UBS initiated coverage of the shares with a 'buy' rating and 920p price target, saying it sees 40% upside potential.
C&C Group fell as it said chief financial officer Andrew Andrea was leaving to take up the same role at Domino's Pizza and held full-year earnings guidance despite a "challenging" macroeconomic environment.
Energean, IG Group, Foresight Group, Bridgepoint, JPMorgan European Growth & Income, Rank Group, PPHE Hotel Group and Patria Private Equity all fell after trading without right to a dividend.
FTSE 250 - Risers
Jupiter Fund Management (JUP) 143.60p 14.88% Renishaw (RSW) 3,405.00p 6.57% Spire Healthcare Group (SPI) 216.50p 4.09% Auction Technology Group (ATG) 341.00p 3.96% Inchcape (INCH) 688.50p 3.92% Burberry Group (BRBY) 1,154.50p 3.73% Raspberry PI Holdings (RPI) 408.50p 3.68% Clarkson (CKN) 3,660.00p 2.52% Ninety One (N91) 199.70p 2.52% Pollen Street Group Limited (POLN) 932.00p 2.42%
FTSE 250 - Fallers
Pets at Home Group (PETS) 195.30p -14.49% C&C Group (CDI) (CCR) 152.00p -5.94% Watches of Switzerland Group (WOSG) 352.00p -4.14% Hochschild Mining (HOC) 300.20p -3.97% Telecom Plus (TEP) 1,824.00p -2.98% Energean (ENOG) 839.50p -2.78% IG Group Holdings (IGG) 1,095.00p -2.75% Mitie Group (MTO) 140.20p -2.64% WH Smith (SMWH) 676.00p -2.38% Foresight Group Holdings Limited NPV (FSG) 457.00p -2.25%
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