It’s not time for Hargreaves Lansdown to breathe easy quite yet. The wealth manager’s reputation could still be damaged by the implosion of Neil Woodford’s Equity Income Fund, according to analysts at Credit Suisse. At the end of last year, its stake in the fund amounted to 31 per cent of its total value and Hargreaves removed Woodford from its best-buy list only after the fund’s suspension. Analysts at the Swiss bank gave the stock an “underperform” rating yesterday, and added: “We find Hargreaves’ premium valuation difficult to support in the face of near-term revenue and earnings growth headwinds.”Panmure Gordon, the broker, said: “You could be forgiven for believing that there was no future. But the pressures are not new, nor necessarily accelerating.”Hargreaves…

Source: The Times October 01, 2019 23:03 UTC