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Royal Bank of Scotland Q3 earnings: what next for the share price?

Analysts remain optimistic about the lender’s future, with US-based investment bank Jefferies predicting the stock could rally more than 90%.

When is Royal Bank of Scotland’s results date?

Royal Bank of Scotland (RBS) will unveil its Q3 earnings on October 24.

Royal Bank of Scotland’s results preview: what does the City expect?

Its been a mixed bag for RBS this year, with the lender’s share price only marginally higher than where it began at the beginning of January, up just 0.8% to 221p as of 11:30 GMT on Tuesday.

However, despite the stock's lacklustre performance, analysts remain upbeat over the long-term. In fact, US-based investment bank Jefferies said that RBS’ share price could rise by more than 90% in a note to investors on Monday.

Jefferies reiterated its ‘buy’ rating for the stock and issued a 418p target price, forecasting mortgage loan growth to accelerate in RBS’ fourth quarter.

Analysts at the investment bank argued that ‘high levels’ of capital repatriation, whereby a company’s offshore assets are converted into domestic currency, will help drive RBS’ share price even higher, with the lender forecast to repatriate 41% of its current market cap by the end of 2021.

Jefferies also believes that RBS will see the cost of equity fall by as much as 10%, giving the lender a ‘valuation uplift’.

Looking to trade RBS? Open a demo or live account with IG

Alison Rose to navigate RBS post-Brexit

In September, RBS announced that Alison Rose will take over from Ross McEwan as CEO – making her the first women to lead one of Britain’s top banks.

Rose will take the helm in November, which will see her forced to navigate the bank through a post-Brexit landscape, so long as the 31 October deadline isn’t push back.

Her job will be made all the more difficult by the government still controlling a significant stake in RBS and, depending on the type of Brexit the UK ultimately gets, progress towards privatisation could be hampered.

‘This is an exciting time as we enter a new chapter for this bank,’ Rose said. ‘Our industry is facing a series of challenges; from the ongoing economic and political uncertainty to shifts in the behaviour and expectations of our customers, driven by rapid advances in technology.’

‘It will be my priority to make sure we are ready to meet these challenges and build the best bank for families, businesses and communities,’ she added.

This information has been prepared by IG, a trading name of IG Markets Limited. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients. See full non-independent research disclaimer and quarterly summary.

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