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(Sharecast News) - Analysts at Berenberg slightly raised their target price on wealth management firm Quilter from 140.0p to 145.0p on Friday following the group's "strongest quarter of the year" for flows.
Quilter released its Q424 update on earlier in the work, where it revealed it had grown assets under management and administration to roughly 119.0bn.
Q424 also saw the highest net inflow figure of the financial year, with management highlighting that the strategic initiatives put in place over the past few years have borne fruit.
"We expect Quilter to continue to generate strong levels of flows, with the platform business - in particular - performing well," said Berenberg, which reiterated its 'hold' rating on the stock.
"However, we await clarity on the outcome of the ongoing advice evidence review, with management announcing that it will provide a progress update on this work at the FY24 results on 5 March."
Reporting by Iain Gilbert at Sharecast.com
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