Vanquis Banking upgraded to Speculative Buy from Hold at Canaccord

Canaccord analyst Portia Patel upgraded Vanquis Banking to Speculative Buy from Hold with a price target of 66 GBp, down from 123 GBp. Following the recent Capital Markets Day, the firm believes a target mid-teens ROTE “should be achievable for Vanquis,” though it could conceivably take longer to deliver than the FY26 target date, the analyst tells investors.