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UBS / Moneysupermarket.com drops after double downgrade by UBS

Moneysupermarket.com drops after double downgrade by UBS
Moneysupermarket.com (LSE:MONY) Group PLC's shares have been rattled by a double downgrade by UBS sending shares 4.4% lower at 264.40p. The Swiss bank cited four main reasons for the move to sell from buy: 1) with shares up around 45% year-to-date, the group is now trading at a premium to other online marketplace peers, after adjusting for medium term growth expectations; 2) it does not expect energy switching volumes to recover to their prior peak; 3) it sees downside risks to consensus 8% revenue growth in 2024 given tough comparatives in insurance and soft trends in money; 4) it believes long term profit growth (exenergy) is likely to be limited. Read More
Posted: Jul 25 2023, 07:06
Author Name: Proactive Investors
Views: 080665

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