Clients “continue to put their trust” in St James’s Place plc, broker Panmure Liberum said in a glowing assessment of Britain’s largest fund manager’s third-quarter results.
SJP delivered record funds under management (FUM) in the quarter, while chief executive Mark Fitzpatrick downplayed potential pension headwinds emerging from the upcoming Autumn Budget.
In fact, the Budget presents opportunities for SJP, analysts noted.
They said: “The need for advice is obvious, especially with change afoot.
“SJP grew faster than the industry with a product range deemed by many as opaque and overpriced. Imagine the prospects with clearer, competitive pricing.”
Panmure reiterated its ‘buy’ rating on SJP stock, setting a target price of 1,400p.
The firm added that SJP continues to make progress in its efforts to deliver a new tiered pricing structure, expected to be completed by the second half of 2025.
Shares were swapping for 864.5p on Friday afternoon.