We don’t support this browser anymore.
This means our website may not look and work as you would expect. Read more about browsers and how to update them here.

Skip to main content
  • Register
  • Help
  • Contact us

Canaccord Genuity gives Celtic stock a 'buy' rating

Tue 21 September 2021 10:39 | A A A

No recommendation

No news or research item is a personal recommendation to deal. Hargreaves Lansdown may not share ShareCast's (powered by Digital Look) views.

(Sharecast News) - Analysts at Canaccord Genuity upgraded Scottish football club Celtic from 'under review' to 'buy' on Tuesday, pointing to a "brighter" outlook for the firm in 2022.

Canaccord stated Celtic's full-year 2021 results reflected the impact of the Covid-19 pandemic alongside "a more challenging season" on the pitch.

The Canadian bank said the outlook for the year ahead was more promising, with "a highly regarded new manager" in place playing "attractive" football, successful qualification for the Europa League Group stages and "strong" sell-through of season tickets over the summer.

"With the prospect of potential automatic Champion's League Group stage qualification for the winners of the SPFL this season, there is added incentive for Celtic to reclaim the title," said Canaccord, which also issued the stock a 143.0p target price.

"We reinstate forecasts following the relaxation of pandemic-related restrictions and base our assumptions on a targeted break-even outcome post player trading."

Canaccord did note that there was, of course, still "some pandemic uncertainty", but its analysts believe that Celtic's "strong global franchise" and "robust balance sheet" leave it well-placed for the future.

    The value of investments can go down in value as well as up, so you could get back less than you invest. It is therefore important that you understand the risks and commitments. This website is not personal advice based on your circumstances. So you can make informed decisions for yourself we aim to provide you with the best information, best service and best prices. If you are unsure about the suitability of an investment please contact us for advice.


    More stockbroker tips from ShareCast

    Latest economy and stock market articles