Source - SMW
JP Morgan Cazenove has upgraded its recommendation on Man Group (LON:EMG) to 'overweight' from 'neutral' in its note on European Asset Managers, which it says is due to the stock's attractive valuation.

After outlining its six themes, the City heavyweight added: "Favoured stocks: Partners Group and ICG - best geared to alternatives growth and low interest rate environment themes; Schroders - diverse product offering amid low rate environment, multi-asset offering for Solvency II, and gearing to DC; Man Group - upgraded to OW (from N) on attractive valuation with 30% discount to sector, c6% yield and surplus capital offering scope for further capital return or M&A potential."

Analysts have upped their price target to 140 pence from 120 pence.

At 2:10pm: (LON:EMG) Man Group PLC share price was +2p at 118.9p