M&G Starting to Look Expensive Due to Limited Long-Term Outlook -- Market Talk

0921 GMT - M&G is beginning to look relatively expensive, with a more limited long-term earnings per share growth outlook than peers, J.P. Morgan analysts write. JPM lowers its recommendation for the U.K. investment manager to underweight from neutral, but maintains the price target of 335 pence. The U.S. bank forecasts attractive operating profit growth in the near term. However, the longer-term outlook is more limited than peers, which the stock now trades broadly in line with, the analysts note. "Importantly, M&G looks relatively weak on its capital return outlook," JPM says. M&G isn't a clean takeover candidate due to its valuation premium, JPM adds. Shares are up 0.7% at 354 pence and have climbed 21% over the year to date. (michael.hennessey@wsj.com)

(END) Dow Jones Newswires

August 13, 2026 05:21 ET (09:21 GMT)