By Scott Kanowsky
Investing.com -- Shares in London Stock Exchange Group PLC (LON:LSEG) jumped on Friday after analysts at UBS raised their rating of the exchange operator to buy from neutral.
The analysts at UBS also said they expect LSE to hike its medium-term growth outlook thanks to pricing strength at its trading and banking unit, as well as foreign exchange tailwinds.
They noted that the stock is currently "cheap," with holdings in the business at the lower end of its two-year average. The analysts added that the balance of risk to reward of the shares is "very favorable."
The UBS upgrade comes after LSE outlined plans to buy back more of its shares and increased its income growth guidance earlier this month, citing benefits from the integration of Refintiv. LSE acquired the data analytics firm from a consortium of Blackstone (NYSE:BX) and Thomson Reuters (NYSE:TRI) in a $27 billion deal in 2021.
Begin trading today! Create an account by completing our form
At One Financial Markets we are committed to safeguarding your privacy.
Please note that it is in our legitimate business interest to send you certain marketing emails from time to time. However, if you would prefer not to receive these you can opt-out by ticking the box below.
Alternatively, you can use the unsubscribe link at the bottom of the Demo account confirmation email or any subsequent emails we send.
By completing the form and downloading the platform you agree with the use of your personal information as detailed in the Policy.