Peel Hunt upgrades Chrysalis on 'potential catalysts'

'Outperform' rating

Peel Hunt has upgraded its recommendation on Chrysalis Investments, pushing the trust from 'Neutral' to 'Outperform', on the back of Klarna’s potential listing, among other “potential catalysts”.

Anthony Leatham and Markuz Jaffe shifted their stance on the trust due to a combination of "signs of life in the IPO market" and the hefty discount the vehicle trades on, which currently stands at 45.9%, according to data from the Association of Investment Companies. The analysts argued that the "market has been slow to recognise the potential catalysts on offer" for a portfolio that "typically responds positively to catalysts, either at the portfolio or the company level". Chrysalis boosted by Klarna and Starling Bank revaluations as NAV jumps 6.5% Last month, Chrysalis boosted it...