1. Citi kept their “buy” on Man ( EMG.L) , although cut their price target to 270p from 290p. As well as a good yield (10.803%) and signs of earnings growth, analysts also thought that there was potential for a share buy-back at Man, possibly in the region of $600m (£371m).
2. Credit Suisse upgrade their rating to “outperform” from “neutral” and Goldman Sachs start coverage of Man with a “buy” recommendation in a wider note on asset managers.
3. Takeover speculation earlier this week, with rumours of a US banking group being willing to offer between 350p and 400p a share
| 08:29 BST | 237.60 | - 4.20p - 1.74% |
Man Group PLC
Sugar Quay
Lower Thames Street
London, EC3R 6DU
United Kingdom - Map
Phone: 44 20 7144 1000
Fax: 44 20 7144 1923
Website: http://www.mangroupplc.com
| Business Summary |
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Man Group plc provides alternative investment products to institutional and private investors worldwide. The company offers various products, including hedge fund portfolios, single manager hedge funds, and other alternative investments in various formats, such as open-ended funds and capital guaranteed products. It distributes its products and solutions to private investors through a network of intermediaries, and directly to institutions. The company was formerly known as E D & F Man Group plc and changed its name to Man Group plc in September 2000. Man Group plc was founded in 1783 and is headquartered in London, the United Kingdom.
yahoo Finance - http://uk.finance.yahoo.com/q?s=EMG.L
Bloomber Finance - http://www.bloomberg.com/apps/quote?ticker=EMG:LN
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