UK's OSB Group bottoms FTSE midcaps after Peel Hunt downgrade

Osb

18/12/2024 08:40

** Shares of British lender OSB Group  OSBO.L  fall 7.6% to
397.8 pence
    ** Stock top loser on FTSE mid-cap index  .FTMC , which is
up 0.14%
    ** Peel Hunt downgrades stock to 'hold' from 'add'; it
raises PT to 414p from 395p
    ** "Following continuing subdued mortgage market conditions
and a recent 1.25 bln pound securitization issue, we now expect
negative loan growth in 2024 and lower than previously forecast
in both 2025 and 2026" - Peel Hunt 
    ** Brokerage, however, adds its view of OSBO's medium-term
returns is modestly strengthened
    ** Including session's losses, stock down 16.5% YTD




 (Reporting by DhanushVignesh Babu in Bengaluru)
 ((DhanushVignesh.Babu@thomsonreuters.com;))