FTSE 250 movers: Citi 'sell' hits Quilter; Grafton buyback pleases

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📚 Daily Digest | Thursday, Aug 31, 2023

FTSE 250 movers: Citi 'sell' hits Quilter; Grafton buyback pleases

The bank noted that larger-than-expected cost cuts have led to 10% consensus earnings per share upgrades since H1 results, with Quilter outperforming the UK market by around 25%. "Yet a third major cost-cutting programme in four years may imply low confidence in the revenue outlook, which our analysis suggests is the main profit driver," it said.

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