Barclays' three asset managers to back (and two to avoid)

Barclays analysts have labelled Jupiter, Aberdeen and Hargreaves Lansdown as the three UK asset managers to buy, in its latest note on the sector.

Picking its winners, as well as stocks it would avoid, Barclays raised its price target on all three names while recommending investors underweight some major rivals. The group's analyst team reiterated its overweight call on Jupiter, raising its price target to 390p - more than 15% above its current price of 333.9p. Analysts Daniel Garrod and Toni Dang said: "We think Jupiter possesses characteristics which are key differentiators in a post-RDR world - excellent five-year performance track record, leading retail brand, and heavy use of platforms for distribution. "Key man risk and...