RBC Capital starts 3i Group at ‘outperform’
Sharecast
Published Dec 06, 2023 09:24
Updated Dec 06, 2023 09:41
RBC Capital starts 3i Group at ‘outperform’
Sharecast - It noted that 3i (LON:III) has a healthy track record on total shareholder return, with a compound annual growth rate of 18% over the last 10 years.
"A significant proportion of this has been driven by Action, and we don't foresee a change near-term," RBC said.
"We expect growth in the discount segment plus a strong and proven store expansion strategy to drive multi-year growth for Action.
"We still see good value in 3i at current levels, given its growth and strong balance sheet, differentiated long-term strategy and defensive asset allocation. Hence, we initiate at outperform."
At 0920 GMT, 3i shares were up 1.6% at 2,293p.
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