Risk Reward Update: Aberdeen Group Ord | Europe

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M

Update

July 31, 2026 04:30 PM GMT

Morgan Stanley & Co. International plc+

Aberdeen Group Ord | Europe

Marina Massuti

Equity Analyst

Risk Reward Update

Aberdeen Group Ord (ABDN.L, ABDN LN)

What’s Changed

Diversified Financials | United Kingdom

Aberdeen Group Ord (ABDN.L)

From

To

Price Target

210p

217p

Bull Case

326p

337p

Base Case

210p

217p

Bear Case

99p

102p

Updated Components

EPS

Bull Base Bear Scenarios

Risk Reward for Aberdeen Group Ord (ABDN.L) has been

updated

Stock Rating

Industry View

Price target

Shr price, close (Jul 30, 2026)

52-Week Range

Fiscal Year Ending

EPS (p)**

Prior EPS (p)**

Underweight

In-Line

217p

239p

265-178p

12/25 12/26e 12/27e 12/28e

15.6

15.9

14.7

14.9

14.4

14.7

14.4

Unless otherwise noted, all metrics are based on Morgan Stanley ModelWare

framework

** = Based on consensus methodology

e = Morgan Stanley Research estimates

Reason for change

We update our estimates post 1H26 earnings. Our AuM increases by ~2% for 202628 on the 2Q26 beat, though we now assume flow inflection in Adviser is pushed

out to 2027 and expect higher outflows in investment. We assume investing margins

at 18.8bps for 2026, in line with guidance ~19bps, adjusting for the Herald and MFS

acquisitions; which puts 2026-28 revenues ~1-2% ahead. Our earnings forecasts rise

by 8% for 2026 and ~2-3% for 2027-28, with our price target rising in tandem to

217p. Our bull and bear valuations move up by a similar degree.

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