HL shares rise as Peel Hunt upgrades stock to 'buy'

Stock has been 'oversold'

Anna Fedorova
The news comes following weakness in HL shares so far this year

The news comes following weakness in HL shares so far this year

In a note issued today (22 October), investment bank Peel Hunt upgraded Hargreaves Lansdown to a 'buy' from 'add', saying the stock has been oversold at current levels.

This follows weakness in HL shares so far this year, which have fallen by over 25% to date and have "materially underperformed sector peers", Peel Hunt said. Today, however, the shares are trading 3.7% higher at £13.99 on the back of the positive report, while Peel Hunt's target price for HL has been upgraded from £17.00 to £18.10. The investment bank said HL's recent Q1 trading update revealed a positive start to its financial year, which has led it to increase its full-year 2021 earnings per share (EPS) forecast to 5%. Commenting on the firm's Q1 update, Peel Hunt said: "Net infl...

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