The London Stock Exchange-traded forex broker Plus500 (LON:PLUS) got on Thursday a “Buy” recommendation from Liberum Capital, the independently-owned pan European investment bank, reports Financial Market News. Liberum’s analysts have set a target price of GBX704.
The Liberum price is significantly higher than the price of the Thursday opening price of GBX590, but is lower than the GBX 800, set by the analysts of the German investment bank Berenberg in April. It is also lower than the 52-week high of GBX 781.
As of Thursday Plus500 has 114.89 million shares in issue and a market capitalization of GBP 676.38 million.
The April 19 market capitalization data ranked Plus500 foruth among the publicly owned forex brokers, closely behind CMC Markets. Also in April the broker reported record high revenue for Q1 2016.
Plus500 offers trading in forex, options, contracts for difference (CFDs), commodities, indices, and exchange-traded funds (ETFs). It operates its own online trading platform for CFDs available in over 31 languages on desktop and Android, Windows and iOS mobile operating systems. According to Investment Trends report from July 2015, it is the second largest CFD provider in the UK.
Plus500 is licensed by three regulators – the Cyprus Securities and Exchange Commission (CySEC), UK’s Financial Conduct Authority (FCA), and the Australian Securities and Investments Commission (ASIC). The broker operates in the European Economic Area (EU member states, plus Norway, Lichtenstein and Iceland), Gibraltar, Australia and certain other jurisdictions across Asia, the Middle East and elsewhere. Its subsidiaries include Plus500UK, Plus500AU, Plus500CY and Plus500IL.
Liberum is a pan-European investment bank launched in September 2007 to provide a different style of broking. It offers equity research, sales and trading in 18 sectors, across the market cap spectrum, high touch and electronic execution services, with specialist expertise in dark pool access, equity capital markets services including IPOs and secondary capital raisings, and M&A advisory, A market maker and a Retail Service Provider, research, sales and trading in convertible bonds.