Shore Capital Keeps Their Hold Rating on Close Brothers Group (CBGPF)

By Ryan Adsit

In a report issued on September 14, Shore Capital from Shore Capital reiterated a Hold rating on Close Brothers Group (CBGPFResearch Report). The company’s shares closed last Tuesday at $10.63, close to its 52-week low of $10.42.

Close Brothers Group has an analyst consensus of Hold, with a price target consensus of $15.81.

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Close Brothers Group Plc operates as a merchant banking group, which provides lending, deposit taking, securities trading and wealth management services. It operates through the following segments: Retail Finance, Commercial Finance, Property Finance, Securities, and Asset Management. The Retail Finance segment provides loans to predominantly retail customers, through a network of intermediaries. The Commercial Finance segment segment lends principally to small and medium-sized enterprises, both through its direct sales force and via brokers. The Property Finance segment specializes in short-term residential development finance, refurbishment, and bridging loans in London, the South East, and selected regional locations. The Securities segment consists of Winterflood, a market-maker for retail stock brokers and institutions. The Asset Management segment provides financial advice and investment management services to private clients. The company was founded by William Brooks Close in 1878 and is headquartered in London, the United Kingdom.