Close Brothers jumps; RBC upgrades to 'outperform'

Close Brothers

16/01/2026 08:45

** British lender Close Brothers CBRO.L jumps 8.7% to 554p; among top gainers on FTSE mid-caps .FTMC, which is up 0.01%

** RBC Capital Markets upgrades to "outperform" from "sector perform"; raises PT to 625p from 475p

** Says, "We believe the bank still has meaningful cost efficiencies to extract, which are not fully reflected in consensus expectations"

** Adds that while headroom is tight, co's CET1 ratio sufficient to absorb full top-up for motor-finance provisioning, incremental restructuring charges, mid-to-high single-digit loan growth

** Stock rated "buy" on avg; median PT is 530p, per data compiled by LSEG

** In 2025, CBRO had more than doubled

 (Reporting by Tuhina in Bengaluru)

 ((Tuhina@thomsonreuters.com))