Financial Services Roundup: Market Talk

The latest Market Talks covering Financial Services. Exclusively on Dow Jones Newswires at 4:20 ET, 12:20 ET and 16:50 ET.

0918 ET – Brooks Macdonald Group shares look undervalued, Peel Hunt says after the asset manager reported higher third-quarter funds under management. Brooks is now trading on a December 2023 enterprise value/EBIT ratio of about 8x, whilst yielding 4%, house brokerage Peel says. “This is too low in our view for a business well positioned to benefit from U.K. wealth growth, an increased number of financial advisers and the ongoing shift to outsource investment management,” Peel analysts say in a note, reiterating their buy recommendation and 2700 pence price target. Shares are unchanged at 1800p. (philip.waller@wsj.com)