Hargreaves Lansdown has had its share price target tweaked downwards by Deutsche Bank, which expects investor sentiment to have been knocked by March’s banking turmoil.
Because of that, the bank sees first-quarter results being weak though how much of a rebound there was in April will be key.
Cutting its target to 850p, from 870p, Deutsche Bank said that might mean positive net flows come through in its fourth quarter (three months to June) but competitors could do better.
'Hold' remains the investment rating.
Shares rose 1% to 798p.