MARKET TALK: Citigroup Cuts Schroders To Sell From Buy

16th Jun 2010 08:40

0740 GMT [Dow Jones] Citigroup downgrades Schroders (SDR.LN) to sell from buy and reduces target price to 1200p from 1365p. Schroders' sensitivity to retail flows is high, says Citi. It forecasts retail funds will contribute 56% of revenues in 2010 for the company. It adds that there are early signs that retail fund flows are slowing and top-quartile performance is slipping. "This could add a Schroders-specific fund flow slowdown to wider market trends," Citi adds. Shares -2.2% at 1335p. ([email protected]) Contact us in London. +44-20-7842-9464 [email protected] (END) Dow Jones Newswires June 16, 2010 03:40 ET (07:40 GMT)

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