Market's view on Abrdn
Published on April 2024
- Stock watchers noted that HSBC raised the Abrdn target price from 145p to 150p, whilst Barclays cut it from 145p to 140p.
- There was a discussion about a potential takeover attempt for Interactive Investor (II), which some watchers were not interested in unless specific directors were removed.
- The re-election of Stephen Bird as a Director was discussed, with the majority of institutional votes being in favour of his re-election, suggesting strong support from institutions.
- There were criticisms of the company’s name change, with comparisons being made to other companies with similarly “moronic” name changes.
- Watchers noted a small rise in the share price, but also lamented its subsequent fall.
- There were negative reviews about Stephen Bird’s presentation style, with multiple watchers commenting on his monotone voice and seeming disinterest.
- The market’s initial optimism and subsequent disappointment were noted, with the share price not lasting long.
- Stephen Bird’s CEO commentary was discussed, with a 3% growth in Assets Under Management and Administration (AUMA) to £507.7bn noted, as well as net inflows at a group level.
- Watchers noted that the cost transformation programme was on track, and that delivering investment performance for clients was a key priority.