Deutsche Bank downgrades abrdn as it questions cost-saving strategies

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abrdn CEO Stephen Bird
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abrdn CEO Stephen Bird

Deutsche Bank has downgraded abrdn to "sell" and highlighted concerns around the asset manager's cost-saving plans. The downgrade from "hold" was revealed in an analyst note published yesterday (14 September), just two weeks after abrdn dropped out of the FTSE 100. The bank said it is now taking a "more cautious stance on several fronts" towards abrdn and has cut its price target by 23% from 175p to 135p, adding that accelerating stake sales will not offset wider headwinds faced by the ...

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