September 10, 2015 / 7:31 AM / 4 years ago

BUZZ-Henderson Group: JP Morgan cut shocks stock

** Asset manger Henderson Group down 2 pct, among top midcap losers & third-top volume mover on index

** JP Morgan cuts TP to 305p from 310p, as even trimmed valuation provides 15 pct potential upside

** Analysts have mean TP of 300p on stock according to Reuters data

** Co also giving back some gains from a day earlier on signs of stronger global equity markets

** Brokerage views recent pull back in shares as a buying opportunity on stock whose c.83 pct funds outperformed their benchmark over 3 yrs to June, keeps overweight rating

** Stock weathered rough August as asset managers’ funds globally hurt by outflows and redemptions in the face of increasingly acute EM concerns

** Henderson’s net flows to outperform industry in Q3 & large pipeline of new funds set to achieve a 3-yr track record supports medium-term net flows, JP Morgan says

** Stock down c.9 pct in Aug & down lost almost a quarter of its value this yr, worse off than a minute c.1 pct fall in the broader financial index (RM:

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