Stock Spotlight: Analysts bullish on Intermediate Capital Group as it rejoins FTSE 100

Share price up 40% YTD

Analysts are optimistic on the outlook for the newest FTSE 100 entrant, Intermediate Capital Group, with some projecting a minimum 15% share price increase over the coming year.

The private equity investment firm was promoted to the UK large-cap index at the beginning of December, replacing Hargreaves Lansdown, which fell into the FTSE 250. This is the second time the PE firm has joined the index, having first risen to it on 23 March 2020, before dropping back into the FTSE 250 on 19 December 2022. Hargreaves Lansdown set to fall out of FTSE 100 Analysts were reassured by ICG's FTSE upgrade, with several reiterating their existing ‘Buy' recommendations. Justin Bates, head of research at Canaccord Genuity, rated the stock a ‘Buy' back in January this yea...