This report is not a personal recommendation and does not take into account your personal circumstances or appetite for risk.
Trade Parameters
Technical Observations – For
Technical Observations – Against
Bullish share price reversal after summer decline. On 20 Nov Plus500 said it expects to beat 2018 market views on trading momentum. On 23 Oct Berenberg said Plus500 is undervalued with regulatory fears overblown.
Risks to Plus500 include more European/UK regulation, calm markets than result in low volatility and less trading, further declines in the cyrptocurrencies which recently boosted results, and of course, broker downgrades.
Analysts are biased positive, although coverage is limited to just 3 brokers with 2 of three target prices suggesting upside from current levels to a consensus of 2061p, in-line with our target of revisiting Aug highs.
Next Event: Trading Update, early Jan
Latest Broker 12-Month Consensus: 67% Buy, 0% Hold, 33% Sell (full breakdown on request)
Source: DowJones Newswires, Reuters News, Bloomberg or Company Press releases
| 1wk | 1m | 3m | 6m | 1yr | 2yr | 3yr | 4yr | 5yr | |
| Perf % | 7.0 | 15.2 | -0.4 | -6.6 | 58.0 | 151.2 | 275.6 | 186.9 | 442.0 |
This research is produced by Accendo Markets Limited. Research produced and disseminated by Accendo Markets is classified as non-independent research, and is therefore a marketing communication. This investment research has not been prepared in accordance with legal requirements designed to promote its independence and it is not subject to the prohibition on dealing ahead of the dissemination of investment research. This research does not constitute a personal recommendation or offer to enter into a transaction or an investment, and is produced and distributed for information purposes only.
Accendo Markets considers opinions and information contained within the research to be valid when published, and gives no warranty as to the investments referred to in this material. The income from the investments referred to may go down as well as up, and investors may realise losses on investments. The past performance of a particular investment is not necessarily a guide to its future performance.
Prepared by Michael van Dulken, Head of Research