Liberum reasserts Quilter 'buy' rating as cheap valuation leaves company 'vulnerable' to bid

P/E of 10.8x

Investment bank Liberum has retained its ‘buy’ rating for Quilter, arguing the simplified business had a plan to improve its proposition.

Its target price for Quilter is 130p, based on a blend of discounted cash flow and price-to-earnings (P/E) ratio, while the firm currently sits at 84.3p, according to data from MarketWatch. The rating followed Quilter's Q1 2023 results, where the company posted a 5% drop in AUM and a 70% fall in inflows, though Liberum said it had not adjusted its estimates of £620m in revenue for this year. Liberum puts Quilter on 'Buy' list despite 11% drop in AUMA Liberum analysts James Allen and Nick Anderson said "guidance is prudent" and if Quilter is able to deliver a flat margin again in 20...