Rating Alert: Aberdeen Asset Management (LON:ADN) Hit With Downgrade by Bank of America, Is This a Concern?

November 29, 2016 - By Peter Kolinski

Aberdeen Asset Management (LON:ADN) Downgrade

Bank of America was downgraded to “Neutral” and currently has GBX 295.00 PT on Aberdeen Asset Management (LON:ADN)‘s stock. This was made public in an analyst report on 29 November.

Aberdeen Asset Management plc (LON:ADN) Ratings Coverage

Out of 21 analysts covering Aberdeen Asset Management PLC (LON:ADN), 2 rate it a “Buy”, 9 “Sell”, while 10 “Hold”. This means 10% are positive. GBX 520 is the highest target while GBX 200 is the lowest. The GBX 291.22 average target is 8.75% above today’s (GBX 267.78) stock price. Aberdeen Asset Management PLC has been the topic of 132 analyst reports since July 23, 2015 according to StockzIntelligence Inc. The stock of Aberdeen Asset Management plc (LON:ADN) has “Underperform” rating given on Thursday, January 21 by RBC Capital Markets. The stock has “Hold” rating given by Numis Securities on Wednesday, October 5. Peel Hunt downgraded it to “Hold” rating and GBX 330 target price in Monday, July 25 report. The stock has “Hold” rating given by Cantor Fitzgerald on Tuesday, May 3. Cantor Fitzgerald maintained Aberdeen Asset Management plc (LON:ADN) rating on Monday, November 28. Cantor Fitzgerald has “Hold” rating and GBX 270 price target. The firm has “Underweight” rating given on Thursday, April 7 by Barclays Capital. The rating was maintained by RBC Capital Markets with “Underperform” on Thursday, December 3. JP Morgan maintained Aberdeen Asset Management plc (LON:ADN) on Tuesday, January 12 with “Neutral” rating. The rating was maintained by Goldman Sachs with “Neutral/Neutral” on Tuesday, August 18. BNP Paribas maintained Aberdeen Asset Management plc (LON:ADN) on Tuesday, January 12 with “Underperform” rating.

The stock decreased 2.55% or GBX 7.02 on November 29, hitting GBX 267.78. About 8.97M shares traded hands or 107.16% up from the average. Aberdeen Asset Management plc (LON:ADN) has declined 8.00% since May 2, 2016 and is downtrending. It has underperformed by 13.26% the S&P500.

Aberdeen Asset Management PLC is a United Kingdom global asset management firm engaged in the active management of financial assets. The company has a market cap of 3.53 billion GBP. It manages assets for both institutional and retail clients. It has a 16.25 P/E ratio. The Company’s institutional clients include pension funds, corporates, sovereign wealth funds, government agencies and insurance companies.

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