- Canaccord Genuity has given its backing to the shares of River and Mercantile Group [LON:RIV] by initiating coverage with a ‘buy’ recommendation and 231 pence a share target price, today.

The broker said that it believes the company is well placed to benefit from growth in the outsourcing market for pension assets and advisory and should be able to deliver mid-teens growth in average AuM, around 20 per cent growth in earnings per share.

Shares in the advisory and asset management business have fallen by just over six per cent in the past month.

At 9:38am: [LON:RIV] River And Mercantile Group Plc Ord Gbp0.003 wi share price was +0.5p at 203.5p

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