Numis Securities starts Plus500 with buy rating and GBP 8.24 price target, indicating 30% upside

Numis Securities Limited, a leading independent investment banking and institutional stockbroking firm has today initiated coverage on CFD broker Plus500 (LON:PLUS) in a research note issued on Wednesday, AnalystRatings.Net is reporting. The shares are trading up today around 3.8% on the news.

Numis set a “Buy” rating for Plus500 (LON:PLUS) and placed a GBX 824 ($13.88) price target on the stock. The stock is currently trading on the AIM in London at 642 GBX. Numis Securities Ltd’s price objective would indicate a potential upside of close to 30% from the company’s current price.

Plus500 Chart since going Public, Courtesy of Bloomberg

Plus500 Chart since going Public, Courtesy of Bloomberg

Numis research and execution services are widely recognized as exceptional. For the last five years, Numis has been rated in the top three in the Extel survey for small capitalization UK stocks. This is a major move in confidence for Plus500 and it’s shares as more reputable firms open up coverage on the exciting company.

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