New markets emerge on the radar of IPF
Brokerage Peel Hunt hiked its target price to 290p from 252p.
“Perhaps most significantly credit quality (is) not being impacted by the economic slowdown,” said analyst Stuart Duncan. “Annualised impairment is... consistent with December despite the typical seasonal weakness.”
Shore Capital analyst Gary Greenwood said: “If the encouraging start to the year can be maintained we believe there may be some upside risk to our earnings forecasts, however, at this early stage of the year we leave our estimates unchanged.
“Considering there may be some upside risk to forecasts, the shares are perhaps slightly undervalued.”
He maintained a ‘hold’ stance.