Baillie Gifford’s Scottish Mortgage investment trust has had its rating downgraded from ‘Positive’ to ‘Neutral’ by brokerage and investment banking firm Stifel.
Despite the trust's share price having increased by 24% since early September, buoyed by the boost in US equities from the presidential US election, Stifel analysts Iain Scouller, William Crighton and Sachin Saggar said they "are taking a contrarian view" on the mandate. "Following this strong re-rating we are more cautious on the prospects for the investment style as we head into 2025, and wonder if many of these growth company stories are now starting to be priced for a perfect environment," the trio of analysts said. Scottish Mortgage NAV dragged down by 11.3% average drop in priv...
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