Deutsche Bank downgrades Hargreaves Lansdown to 'Sell'

The bank noted that Hargreaves Lansdown's share price has increased by about 20% over the last two weeks to 927p. In the same time period, the FTSE 100 has risen just 6%. Rhea Shah, analyst at Deutsche Bank, said in a note yesterday (24 July) that "we view [this] as an overreaction to the recent inflation data and fourth quarter trading update". "At these levels, we feel cautious on the medium-term outlook for the group, and see more downside than upside," she added. Lee Gardhouse departs Hargreaves Lansdown after 28 years In its trading update for the three months to June 2023 ...