IG Group Holdings plc·Financial Services

IG Group Holdings Plc's (LSE:IGG) trading update this week was “impressive” and surprisingly positive, analysts at RBC Capital Markets highlighted as it repeated a bullish rating and lifted forecasts. The Canadian bank's London-based analyst team rates the trading platform operator as an "Outperform", and increased its target price to 1,850p from 1,600p, implying around 21% upside to the current market level.

The online-trading company raised its guidance following a strong start to the year, pushing its stock 11% higher to lead the FTSE 100 risers.

IG Group share price has gone parabolic and hit its all-time high after the company published strong financial results and boosted its forward guidance. It soared to a record high of 1,717p, becoming the best performing company in the FTSE 100 Index.

Shares in IG Group Holdings Plc (LSE:IGG), the online trading platform, jumped 8.4% to 1,708p after the company materially upgraded both near-term and medium-term guidance on the back of a first quarter that saw trading revenues grow 25% year on year. Organic revenues rose 19% in the period, with first trades up 63% and active customers growing 12%, reflecting what Panmure Liberum described as ongoing improvements in marketing efficiency.
IG Group Holdings plc engages in the online trading business worldwide. The company offers Over-the-counter (OTC) leveraged derivatives, which include CFD (contracts for difference) that enable clients to take advantage of changes in an asset's price without owning the asset itself, as well as access to a range of risk-mitigation measures, including stops and limits and a limited risk account; and spread bets and options. It also provides exchange-traded derivatives under the tastytrade, an online brokerage and investor education platform; Nadex, a US derivatives exchange; and Spectrum, a multilateral trading facility. In addition, the company offers stock trading services and investment services that include commodities, equities, and fixed-income assets. Further, it provides spread betting, CFD trading, foreign exchange trading, market risk management, data distribution, software development and support, financial, publication, nominee, domains registry, and translation services, as well as issues turbo warrants. The company was founded in 1974 and is headquartered in London, the United Kingdom.
Financial Services
Financial - Capital Markets
2,440
2014-01-17
0.49