Private markets investment manager Bridgepoint Group (LSE:BPT) has been tipped as a 'Buy' following last week's interim results, which appeared to have impressed.
Deutsche Bank's Buy rating comes with a price target of 430p, upgraded from 360p, implying substantial upside on the stock's last close of 322.60p.
According to DB analyst David McCann the London-listed investment manager's first-half was "well ahead" of consensus, driven by higher-than-expected catch-up fees from accelerated fundraising in its private equity and Energy Capital Partners strategies, alongside stronger performance-related earnings tied to exceptional investment returns at Energy Capital Partners.
McCann has folded the results, updated guidance and the pending Kayne Anderson Real Estate acquisition into his forecasts, lifting fully diluted adjusted earnings-per-share estimates for 2026, 2027 and 2028 to 30.4p, 29.5p and 34.7p, up 25%, 2% and 15% respectively from prior estimates of 24.4p, 29.0p and 30.1p.
His upgrade follows Bridgepoint's reported first-half underlying EBITDA of £227.3m, up 77.6% year-on-year, and comes as the group works toward closing its $1.39bn Kayne Anderson Real Estate deal by year-end.
