Hargreaves Lansdown downgraded to Sell from Hold at Deutsche Bank

Deutsche Bank analyst Rhea Shah downgraded Hargreaves Lansdown to Sell from Hold with a price target of 790 GBp, down from 880 GBp. The shares have risen 20% over the last two weeks, which is an overreaction to the recent inflation data and Q4 trading update, the analyst tells investors in a research note. At these share levels, the firm feels cautious on the medium-term outlook for Hargreaves and sees more downside than upside.