GB : Alpha FX - Raising forecasts on broad strength

Alpha FX has stated that trading has been very positive across all segments so far this year. Especially encouraging is the strong momentum in newer areas - the Institutional and Alpha Platform Solutions businesses in the UK, and the overseas offices in Canada and Amsterdam. As a result, the Board expects to exceed expectations for the full year. Based on this strength we have raised our revenue forecast for 2021 by 9.2% and our adjusted PBT forecast by 9.3%. We also raise our target price from £15.5 to £18.0. Despite the upgrades to estimates we regard our forecasts as being conservative, if current strength persists through the year.

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