Henderson shares cut to sell after rise to 'unjustified' premium

Shares in Henderson Global Investors have been cut to a sell by analysts at Shore Capital after a dramatic surge in price this year left them trading well above their historic average.

In a note sent out ahead of their results later this week, Shore Capital cut its rating from a "hold" to a "sell" on the grounds that the company is likely to disappoint after such a good run. Shares had risen from 118p to 209p in the last 12 months, a gain of almost 80%, and Shore analysts Owen Jones and Gary Greenwood noted how year-to-date alone shares are up almost 60%. Shares have climbed following a number of positive updates from the group, initially in July when it delivered market-beating forecasts of profits of £100m, and then in August when it actually delivered profits of ...