Research, Charts & Company Announcements
Research Tree provides access to ongoing research coverage, media content and regulatory news on LIONTRUST ASSET MANAGEMENT. We currently have 28 research reports from 2 professional analysts.
|16Jan17 12:00||RNS||Holding(s) in Company|
|11Jan17 07:00||RNS||Trading Statement|
|06Jan17 09:00||RNS||Director/PDMR Shareholding|
|05Jan17 07:00||RNS||Director/PDMR Shareholding|
|15Nov16 07:00||RNS||Half-year Report|
|07Nov16 09:31||RNS||Form 8.3 - [offeree/offeror]-Sepura PLC|
Frequency of research reports
Research reports on
LIONTRUST ASSET MANAGEMENT
LIONTRUST ASSET MANAGEMENT
N+1 Singer - Liontrust Asset Management - Q3 AuM +6% on strong flows, reiterating BUY
11 Jan 17
Liontrust has posted 6% AuM growth, breaking through the £6bn mark during Q3, driven by a combination of strong net inflows and positive investment performance. We update our forecasts for the recently announced Alliance Trust Investments acquisition (expected to complete in April 2017) and also make a modest 2-3% EPS upgrade on Q3 AuM outperforming our assumptions. Valuing Liontrust at 11x FY18e PER multiple, capturing the full impact of the acquisition, we increase our 12m Target Price to 440p (from 374p) and reiterate our BUY recommendation.
N+1 Singer - Morning Song 11-01-2017
11 Jan 17
Xaar has signed an agreement with Xerox Corporation to partner in Bulk piezo inkjet printheads, echoing the partnership it signed with Ricoh in March for Thin Film piezo printheads. This is in line with Xaar’s 2020 vision announced in March 2016, extending Xaar’s product offering through collaborative development. The partnership is expected to provide net benefits to both partners through incremental sales and more cost-effective technology development, although we do not anticipate any changes to our forecasts in the near term.
N+1 Singer - Liontrust Asset Management - Solid H1 earnings growth on higher AuM
15 Nov 16
Liontrust’s interims provided no surprises on earnings, although we do note a higher than expected 4.0p interim dividend (vs N+1Se 3.5p). 15% PBT growth yoy has been driven by 30% AuM growth yoy, and +19% in H1. The outlook is positive but we adopt a prudent stance and assume only 5% AuM growth in H2 given the very strong investment performance delivered in H1 and political backdrop. We leave forecasts unchanged. The shares are attractive at 9.5x cal’17 vs peers at 12-15x. We reiterate our 374p 12m TP (11x cal’17 PER) and our BUY recommendation.
N+1 Singer - Morning Song 15-11-2016
15 Nov 16
We have revised our expectations for Vernalis’ cough cold franchise, including reduced price expectations and higher expected sales & marketing expenditure (including sampling costs). Following the disappointing first-season performance of Tuzistra™ XR, we maintain a cautious stance ahead of the upcoming flu season. Our recommendation remains Hold with a revised target price of 37p (from 46p).
N+1 Singer - Liontrust Asset Management - Performance drives strong Q2 AuM growth
06 Oct 16
Strong investment performance has been the primary contributor to a 17% increase in AuM to £5.7bn during Q2. Net flows have been impacted by post-referendum uncertainty but remain positive. AuM has grown another £140m (to £5.8bn) this week. We incorporate the strong Q2 performance into our forecasts: FY16e EPS +7% and outer years by +9-10%. Rolling forward to cal’17 earnings, we apply an 11x PE multiple revising our target price to 374p (from 310p). We reiterate our BUY recommendation.
N+1 Singer - Morning Song 04-07-2016
04 Jul 16
After outperforming the wider market by around 5% in Q1, our Best Ideas took a beating in Q2. Sepura was an example of a poor individual stock call, but the short term EU referendum effect has taken a very big toll on our portfolio. We look for a much better H2 as the initial Brexit turmoil subsides. In this note we update our thoughts on our original 15 Best Ideas in January, removing one stock and adding three. We keep faith with the majority of our Best Ideas as we feel that most of our underlying themes remain intact (see below). This is as per our Strategy note a week ago entitled “Brexit – a few thoughts in mid and small cap”. Additions to our portfolio at the halfway stage are: accesso Technology, Augean and Victrex. We also take the opportunity in this note to update a few of our Quant themes and styles.
Making Mobiles Better
17 Jan 17
Mobile phones are increasingly the key connection for the modern world. This means that the performance of mobile phones, and their networks, is going to become more critical for all the apps and businesses that rely on them. New technologies such as VR, AR, and AV will need better, more reliable connections to really move into the mainstream. In this thematic piece we attempt to identify some of the most important issues facing mobile phone networks and their users, and start to identify solutions and enablers that will solve these problems and create value by doing so.
N+1 Singer - Best Ideas 2017 - Top picks
04 Jan 17
Today we publish our Best Ideas for 2017 - 12 stocks that we believe have excellent prospects in the current year together with a detailed discussion of what we see as the key sector and market themes for 2017. Our top picks are Cineworld, Elementis, Herald Investment Trust, Hill & Smith, IQE, MySale, Redde, ReNeuron, RhythmOne, SDL, Servelec and Severfield.
The Monthly January 2017
09 Jan 17
Despite all the hullaballoo of the Brexit vote and the subsequent election of Donald Trump as the next US President, the UK stock market prospered last year, especially in the latter few months of 2016. The combination of a depreciating currency – making $ earnings more valuable in relative terms - and the Trump emphasis on infrastructure expenditure drove the stock market higher
Small Cap Breakfast
17 Jan 17
Global Energy Development (GED.L) — To be renamed Nautilus Marine Services. Schedule 1 from developer and seller of hydrocarbons and related products. Reverse takeover. Raising $10.5m via a convertible. Expected 9 Feb. Eco (Atlantic) Oil & Gas—TSX-V listed oil and gas exploration has announced its intention to float on AIM. Assets in Guyana and Namibia. Proposed £2m-£3m fundraise. Diversified Gas & Oil—According to LSE website first day of trading on AIM now expected for 30 January.
N+1 Singer - Morning Song 16-01-2017
16 Jan 17
As the birthplace of Stephenson, Armstrong and Swan, the North East of England has a proud history of industrial and technological innovation. Despite local economic challenges, the region’s industrial heritage lives on through continuing success in high end engineering and technology. The recent takeovers of private equity backed SMD (subsea robotics) and Nomad Digital (wi-fi on the railways) are testament to this. The North East has also emerged as a leader in genetics and genomics with an enviable life sciences and healthcare infrastructure. Against this backdrop, we expect the region to continue to throw up attractive IPO candidates to build on the six new listings in the past three years. We expect 2017 to be far kinder to the existing portfolio of North East plcs than 2016 (a year to forget) with recent management changes one important theme for the new year. Our top picks are Hargreaves Services, Quantum Pharma and Zytronic (all N+1 Singer Corporate clients) and we are Buyers of Northgate and Grainger.