RBC Capital downgraded Schroders (SHNWF) to Sector Perform from Outperform with a price target of 610 GBp, up from 440 GBp. The firm expects Nuveen’s bid is likely to succeed, and with shares trading close to the implied offer value, it sees limited remaining upside. The firm added that it made 1% upgrades to its revenue estimates for FY26 and FY27, with higher AUM-linked revenue offset by slightly lower performance fees.
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