Tatton has published in line interim results. Average monthly net inflows in Tatton Investment Management grew to £90m pcm with headline AuM now at £5.7bn, driving group revenues up 16%. We leave our forecasts unchanged with H1 KPIs accounting for 45-50% of our FY19e estimates – a solid underpinning. We continue to apply a premium 24x FY20e PER rating driving a 310p 12m Target Price, incorporating a blend of base and upside case scenarios. We reiterate our BUY recommendation.
15 Nov 2018
In line interim results, forecasts unchanged
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In line interim results, forecasts unchanged
Tatton Asset Management Plc (TAM:LON) | 577 -57.7 (-1.7%) | Mkt Cap: 349.2m
- Published:
15 Nov 2018 -
Author:
Andrew Watson -
Pages:
3
Tatton has published in line interim results. Average monthly net inflows in Tatton Investment Management grew to £90m pcm with headline AuM now at £5.7bn, driving group revenues up 16%. We leave our forecasts unchanged with H1 KPIs accounting for 45-50% of our FY19e estimates – a solid underpinning. We continue to apply a premium 24x FY20e PER rating driving a 310p 12m Target Price, incorporating a blend of base and upside case scenarios. We reiterate our BUY recommendation.