AJ Bell PLC (LSE:AJB) has received a favourable review from Shore Capital Markets following its recent trading update in which the online wealth platform said customer numbers rose above 500,000 in the latest quarter.
Shore Cap reckons AJ Bell is seeing superior gross inflows into its Advised segment compared to its peer group, with improved retail investor sentiment in the run up to the tax year end also noted.
“AJ Bell’s growth since IPO in 2018 is impressive, having risen to over half a million from 200,000 customers over that period,” said analysts
The stock represents good value in Shore Cap’s view, given it has “underperformed the peer group of market-geared wealth managers and investment platforms since the recent rally in global markets”.
“Buy AJB for earnings quality, growth and yield,” said Shore Cap, giving the stock a 350p fair valuation.
The stock added 2.2% to 301.5p on Thursday.