IG Group Holdings (IGG)

Down
Share Price:
1,302.00p
Market Cap:
£4,327.01m
Change Today:
-16.00p
Sector:
Financials

Broker tips: Standard Chartered, IG Group

By Benjamin Chiou

Date: Wednesday 20 May 2026

LONDON (ShareCast) - (Sharecast News) - Citi reiterated its 'neutral' rating on Standard Chartered on Wednesday after the company's investor update a day earlier.
In an update on Tuesday, StanChart announced plans to cut nearly 8,000 jobs and set higher medium-term profitability targets.

"We welcomed the investor update which clearly outlined the differentiating factors in the StanChart business model and where incremental investment is envisaged to position the bank for the future and drive structural top-line growth," Citi said.

"Trading on 1.1x P/TB for a more than 15% target return on tangible equity in 2028 and 5-7% target revenue compound annual growth rate, the stock appears inexpensive."

That said, Citi expects the initial debates will focus on the 2027-28 cost trajectory and capital allocation priorities, with the targets implying a step-up in cost growth and potentially lower buybacks than consensus assumes. This may limit consensus earnings per share upgrades and hold the shares back near-term, it said.

Deutsche Bank lifted its price target on IG Group on Wednesday to 1,750p from 1,650p after the online trading provider upgraded its guidance for 2026 and its medium-term outlook as it reported a jump in first-quarter revenue.

Deutsche said Q1 total revenue was around 13% ahead of recently-issued guidance and 6% ahead of its own forecast, driven by higher volatility in the period, in particular in the core OTC segment, more than offsetting slightly weaker outcomes in the other areas.

"Management guidance is also increased, with FY26 organic revenue now expected to grow 10-15% (versus high single digits % previously) and future years more than 10% (vs high single digits % previously)," it noted.

"EBITDA margin guidance in the mid-40s% is unchanged, we think reflecting the higher revenue being generated being reinvested into further customer acquisition/marketing costs, which in turn should help to drive future revenue growth from a higher installed customer base."

Overall, DB said the new guidance implies low-mid single digit percentage increases in revenue and EBITDA versus previous guidance. "We view this as a robust update," it said.

Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

 

IGG Market Data

Currency UK Pounds
Price 1,302.00p
Change Today -16.00p
52 Week High 1,938.00p
52 Week Low 1,025.00p
Volume 827,829
Shares Issued 332.34m
Market Cap £4,327.01m

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