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RBC upgrades UK's Rathbones on attractive capital return prospects

ReutersApr 2, 2025 8:10 AM

RBC Capital Markets upgrades Rathbones RAT.L to "outperform" from "sector perform"; raises PT to 2,000p from 1,850p

Expects Investec Wealth integration to translate to more meaningful earnings benefits for the British wealth manager FY25 onward

Last month, RAT appointed former Man Group EMG.L CFO Jonathan Sorrell as its chief executive designate

RBC says, "Timely arrival of new management offers an opportunity for further strategic progression to ensure enlarged franchise achieves its organic growth potential"

Stock rated "hold" on avg; median PT is 2,142p, per data compiled by LSEG

As of last close, RAT down 6% this year

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