BNP Paribas Exane upgrades Schroders ahead of Q3 results

(Sharecast News) - BNP Paribas Exane upgraded Schroders on Friday to 'outperform' from 'neutral' ahead of third-quarter results next week, as it pointed to improving momentum and an attractive valuation. "We see these results as a potential strong positive catalyst for the stock where the company will outline positive flows in Q3 and beyond and positive fund performance momentum," it said.

"We also expect some strategic repositioning of the company which could include a cost savings program.

"Finally, we see a better outlook for Schroders' Wealth and alternative businesses as deal activity rebounds."

At 0935 GMT, the shares were up 3.3% at 355.40p.